China leaves LPRs on hold for 14th consecutive month
Decision in keeping with ‘moderately loose’ policy stance repeatedly outlined by PBoC officials
China has left two of its key lending rates on hold for the 14th consecutive month, in line with market expectations and the “moderately loose” stance promoted by its central bank.
In a statement on July 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 levels at which they have been set since May 2025. All 23 market participants surveyed by Reuters on July 17 had predicted the hold.
LPRs are calculated from a rounded
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