China’s central bank holds key lending rates
Decision to keep one- and five-year LPRs is in line with analysts’ expectations
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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