PBoC on hold as Fed signals steeper rate rises
The People’s Bank of China announced today (April 20) it is keeping its one-year loan prime rate (LPR) at 3.7%, and the above-five-year LPR at 4.6% for the third month in a row.
The PBoC has kept the rates level since January, after reducing them from 3.8% and 4.65%.
Commentators have noted that Beijing may be cautious about easing interest rates due to concerns about capital flight, particularly if the US Federal Reserve and other advanced economies raise rates.
Fed chair Jerome Powell has
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