China on Friday kept its main benchmark lending rates unchanged at the monthly fixing.
The People's Bank of China (PBOC) said it would keep the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%.
The one-year LPR affects corporate and most household loans in China, while the five-year LPR acts as a benchmark for mortgage rates.
Urban jobless rate rose to a six-month high, while year-on-year home prices fell at their fastest pace in nine years.
Bank of America lowered their forecast for China's 2024 GDP growth to 4.8%, and Citigroup trimmed their projection to 4.7%.
Organizations:
Reuters, People's Bank of China, Bank of America, Citigroup
Locations:
People's Republic of China, China