China’s benchmark lending rates were kept unchanged, as expected on Thursday, following a hold of policy rates earlier this month.
However, economists say Beijing will need to ramp up support to shore up the country’s sputtering economy.
The one-year loan prime rate was held steady at 3.55%, while the five-year LPR was unchanged at 4.2%, the People’s Bank of China said.
The loan prime rates are calculated monthly based on the interest rates which 18 designated commercial banks charge their best clients.
Thursday’s...
Organizations:
People’s Bank of
Locations:
Beijing, People’s Bank of China