PBoC holds key lending rates
Market-based lending rates remain unchanged as economic data remains mixed
The People’s Bank of China (PBoC) left its key lending rates unchanged today (June 20), as recent data showed mixed signs of economic recovery in China.
The central bank announced it would keep the one-year loan prime rate (LPR) at 3.45%, unchanged since August 2023. Most new and outstanding loans in China are based on the one-year LPR.
The five-year LPR, which influences the pricing of mortgages, was left unchanged at 3.95%. The PBoC last cut the five-year rate by 25 basis points in February to
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