PBoC stays put while government works to boost consumption
The People’s Bank of China
The People’s Bank of China has left its key lending rates unchanged for the fifth consecutive month.
The central bank said today (March 20) that it was keeping the one-year loan prime rate (LPR) at 3.1% and the five-year LPR at 3.6%.
LPRs are normally charged to banks’ best clients. They are calculated each month after 20 designated commercial banks submit proposed rates to the PBoC’s National Interbank Funding Centre.
Most new and outstanding loans in China are based on the one-year LPR. The five
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