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.

READ MORE:

https://business.inquirer.net/392058/china-keeps-lending-benchmarks-unchanged-in-march

https://business.inquirer.net/395343/smaller-chinese-banks-cut-deposit-rates-on-squeezed-margins