China’s central bank holds key lending rates

People’s Bank of China
People’s Bank of China

The People’s Bank of China (PBoC) has kept benchmark lending rates unchanged for the fifth consecutive month.

The central bank said in a statement today (January 22) that it was keeping the one-year loan prime rate (LPR) at 3.45%, while holding the five-year LPR at 4.2%. The LPRs are based on an average of the lending rates that the country’s biggest banks offer their best clients.

Analysts were widely expecting the decision – all but one of the 27 market watchers polled by Reuters last week

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