By Mucahithan Avcioglu
ISTANBUL (AA) - The People’s Bank of China held its benchmark lending rates constant for the sixth consecutive time on Monday, in line with market forecasts.
The one-year loan prime rate, a crucial reference for corporate and household loans, was kept at 3.10%.
Similarly, the five-year rate, a key indicator for mortgage rates, remained constant at 3.6%.
Both rates have remained at these historic lows since a quarter percentage point cut in October.
The decision came after the uncertainty and fears caused by tariff conflict spurred by US President Donald Trump.
It also followed better than expected economic data by China, with the gross domestic product (GDP) growing by 5.4% year-on-year in the first quarter.
Retail sales and industrial output in the country also came above the market forecasts.
After the Chinese bank's announcement, the yuan was stable, trading at around 7.2995 against the US dollar.