China stands pat on lending benchmarks for eighth month in April
SHANGHAI/SINGAPORE – China kept its benchmark lending rates unchanged for the eighth month in April on Thursday, matching market expectations.
The one-year loan prime rate (LPR) was kept at 3.65 percent, while the five-year LPR was unchanged at 4.3. percent.
In a Reuters poll of 30 market watchers conducted this week, 27 predicted no change to either 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. China last cut both LPRs in August to boost the economy.