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Economists predicted hold as PBoC turns to other means for credit growth
China’s central bank kept its benchmark lending rates unchanged today (August 20) in a decision widely predicted by economists.
The People’s Bank of China said in a statement its one- and five-year loan prime rates (LPRs) would stay at 3% and 3.5% respectively. All 20 market participants surveyed by Reuters before the decision predicted the move, as they did last month, when the PBoC also left both rates unchanged.
The PBoC set the LPRs at their current levels in May when it reduced both rates by
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