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The one-year loan prime rate (LPR) was kept at 3.1%, while the five-year LPR was unchanged at 3.6%.

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The five-year loan prime rate (LPR) was lowered by 15 basis points to 4.45% from 4.60%, while the one-year LPR was unchanged at 3.70%.

It asked commercial banks to speed up the granting of home loans and to set mortgage rates at reasonable levels at a meeting on Monday.