China leaves benchmark lending rates unchanged
One-year LPR stays at 3% and five-year rate remains at 3.5% following easing via structural tools
China’s central bank has left two of its benchmark lending rates unchanged for the eighth month in a row.
In a statement today (January 20) the People’s Bank of China said its one- and five-year loan prime rates (LPRs) would remain at 3% and 3.5% respectively, the level at which they have been set since last May. The LPRs, alongside with the PBoC’s seven-day reverse repurchase rate, are among the central bank’s benchmark lending rates. The one-year LPR influences most new and existing loans, and
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