China holds LPRs for 13th consecutive month
Decision comes after governor says ‘slower, more efficient credit growth’ may be new normal
China’s central bank has left two of its benchmark lending rates unchanged for the 13th consecutive month, in line with market expectations.
The People’s Bank of China issued a statement today (June 22) that said its one- and five-year loan prime rates (LPRs) would remain at 3% and 3.5% respectively, the levels 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
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