China holds key lending rates as expected
Central bank keeps one- and three-year LPRs at 3% and 5% respectively
China’s central bank left its benchmark lending rates unchanged today (June 20), in line with expectations.
The People’s Bank of China said in a statement that its one- and three-year loan prime rates (LPRs) would stay at 3% and 5% respectively until its next rate decision. LPRs are normally charged to banks’ best clients and are calculated each month after 20 commercial lenders submit proposed rates to the PBoC.
Most new and outstanding loans in China are based on the one-year LPR, while the five
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