China’s central bank keeps lending rates unchanged for 3rd month

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

By Tuba Sahin

ANKARA (AA) - China’s central bank on Monday kept its key lending rates constant for the third straight month amid a weakening yuan, in line with market forecast.

The one-year loan prime rate – the medium-term lending facility uses for corporate and household loans – was unchanged at 3.65%, according to a statement by the People’s Bank of China.

The five-year rate, a reference for mortgages, was left at 4.3%.

Chinese yuan lost nearly 12.7% since the beginning of this year with US dollar/yuan parity hitting 7.1587 on Monday.

The central bank last week had maintained its medium-term policy rate at 2.75%.

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