PBoC keeps key lending rates stable

PBoC governor Yi Gang

China’s central bank left its benchmark lending rates unchanged for the third straight month, as it aims to balance a worsening economic outlook against inflationary pressures.

At its monthly fixing, the People’s Bank of China maintained the one-year loan prime rate (LPR) at 3.65%. It also kept the five-year rate, a reference for mortgages, at 4.3%.

The move comes after the PBoC last week rolled over 850 billion yuan ($120.2 billion) of one-year medium-term lending facility (MLF) loans at an

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