China leaves benchmark lending rates unchanged
One- and five-year LPRs held steady as PBoC conducts 14-day reverse repo operations before holiday
China’s central bank left two of its benchmark lending rates unchanged today (September 22) and conducted 14-day reverse repurchases on top of its daily liquidity operations.
The People’s Bank of China left its one- and five-year loan prime rates (LPRs) at 3% and 3.5% respectively, according to a release. The announcement marks the fourth month in which the PBoC has left the rates unchanged.
LPRs are normally charged to mainland Chinese banks’ best clients and are calculated each month after 20
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