China as expected kept its benchmark lending rate steady for the fourth straight month on Thursday.The one-year loan prime rate (LPR) was kept unchanged at 3.85 per cent, while the five-year LPR remained at 4.65 per cent.Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing of mortgages.It seems that policymakers see little need to engineer a further decline in bank lending rates given the relatively rapid economic recovery and the continued prop…
from South China Morning Post https://www.scmp.com/economy/china-economy/article/3098061/china-keeps-loan-rate-steady-fourth-straight-month
Thursday, August 20, 2020
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