China holds key lending rates
The People’s Bank of China again held its benchmark lending rates unchanged, at a time when central banks around the world are tightening monetary policy to fight inflation.
At its monthly fixing today (July 20), the PBoC kept the one-year loan prime rate, or LPR, steady at 3.7%. It last lowered the rate in January.
The five-year LPR, a reference for mortgages, was maintained at 4.45%, though some analysts had expected the central bank to lower it to help the ailing property sector. The PBoC
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