PBoC keeps key lending rates stable
China’s central bank maintains reference rate for mortgages but calls on banks to support developers
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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