China holds benchmark lending rates constant for 5th month

People's Bank of China keeps 1-year loan prime rate at 3.65%, 5-year rate at 4.3%

By Tuba Sahin

ANKARA (AA) - China on Friday kept its benchmark interest rates unchanged for the fifth consecutive month, in line with the market forecast.

The People’s Bank of China held the one-year loan prime rate (LPR) – the medium-term lending facility uses for corporate and household loans – at 3.65%.

Meanwhile, the five-year LPR, a reference for mortgages, was left at 4.3%.

China's annual inflation rate rose to 1.8% in December 2022, from 1.6% in November.

The Chinese economy grew 3% year-on-year in 2022, better than the market estimates but missed the official target of around 5.5%.

Kaynak:

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