PBoC leaves loan prime rates unchanged for eleventh month
Widely expected move comes after Pan reiterates ‘moderately loose’ policy stance
China’s central bank left two of its benchmark lending rates unchanged on April 20 for the eleventh consecutive month.
The People’s Bank of China issued a statement that 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 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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