People's Bank of China maintains one-year and over-five-year LPR rates at 3.35% and 3.85% respectively.
The People's Bank of China has kept the one-year loan prime rate (LPR) at 3.35% and the over-five-year LPR at 3.85%, unchanged from the previous month. These rates serve as benchmarks for consumer loans and mortgages, indicating stability in China's monetary policy. The decision comes amidst expectations of possible rate cuts following trends from the U.S. Federal Reserve, though the PBOC opted to maintain current rates.
September 20, 2024
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