China holds key lending rates
PBoC keeps one- and five-year LPRs at 3% and 3.5% respectively, as expected
China’s central bank kept its benchmark lending rates unchanged today (July 21) in a move predicted by economists.
The People’s Bank of China said in a statement its one- and five-year loan prime rates (LPRs) would stay at 3% and 3.5% respectively. Both decisions had been predicted by all 20 market participants polled by Reuters last week.
The PBoC set the LPRs at their current levels in May when it reduced both rates by 10 basis points.
LPRs are normally charged to banks’ best clients and are
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