China holds benchmark lending rates steady as expected
China has kept its benchmark lending rates steady for the fifth consecutive month in March, as expected by the market. The one-year loan prime rate (LPR) remains at 3.1%, and the five-year LPR stays at 3.6%. Most new and outstanding loans in China...
By Reuters | Updated:
IANS
China held benchmark lending rates steady for the fifth straight month in March on Thursday, matching market expectations.
The one-year loan prime rate (LPR) was kept at 3.1%, while the five-year LPR was unchanged at 3.6%.
In a Reuters poll of 33 market participants conducted this week, 29, or 88% of them expected no changes to either of the two rates.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
In October 2024, Chinese lenders slashed lending benchmarks by bigger-than-expected margins to revive economic activity.
The one-year loan prime rate (LPR) was kept at 3.1%, while the five-year LPR was unchanged at 3.6%.
In a Reuters poll of 33 market participants conducted this week, 29, or 88% of them expected no changes to either of the two rates.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
In October 2024, Chinese lenders slashed lending benchmarks by bigger-than-expected margins to revive economic activity.
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