China keeps prime rates unchanged
Print Edition
China鈥檚 one-year loan prime rate, a market-based benchmark lending rate, came in at 3.85 percent yesterday, unchanged from the previous month.
The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 4.65 percent, according to the National Interbank Funding Center.
According to analysts, the lending rates have remained steady for 11 consecutive months, matching market expectations.
The sound recovery of China鈥檚 macro-economy along with accelerated production and the positive prospect of economic activities provided support for the stable lending rates, said Wen Bin, chief analyst at China Minsheng Bank.
China will adopt a prudent monetary policy that is flexible, precise, appropriate and moderate in 2021, according to this year鈥檚 government work report.
The LPR is used as a reference for bank lending.
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