China leaves benchmark lending rates unchanged as forecast

China leaves benchmark lending rates unchanged as forecast

People's Bank of China holds 1-year loan prime rate at 3.45%, 5-year rate at 3.95%

By Tuba Ongun

The People’s Bank of China (PBoC) kept benchmark lending rates constant at record lows on Monday, meeting the market forecast.

The one-year loan prime rate (LPR) – the medium-term lending facility used for most corporate and household loans – was held at 3.45% while the five-year LPR, the peg for mortgages, was left at 3.95%

Last week, the bank held its key policy rate, called the medium-term lending facility rate (MLF), steady.


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