Chinese Banks Maintain Lending Rates After PBOC Policy Rate Hold

01/22/2024 09:16
Chinese Banks Maintain Lending Rates After PBOC Policy Rate Hold

China’s commercial lenders held their benchmark lending rates steady on Monday, in line with the central bank’s decision to maintain policy rates amid concerns over pressures on the yuan.

China’s commercial lenders held their benchmark lending rates steady on Monday, in line with the central bank’s decision to maintain policy rates amid concerns over pressures on the yuan.

The one-year loan prime rate was held at 3.45%, matching the consensus forecast by economists surveyed by Bloomberg. The five-year rate, a reference for mortgages, was also kept at 4.2% as projected, data from the People’s Bank of China showed.

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