Chin’s PBC set one-year LPR at 3.35%

China’s central bank, the People’s Bank of China (PBC), announced on Tuesday that one-year loan prime rate (LPR) is 3.35 per cent, while the over-five-year LPR, commonly used for mortgages, has been set at 3.85 per cent.

The new interest rates, determined by the National Interbank Funding Center (NIFC), will be effective until the next announcement.

Attribution: The People’s Bank of China report

Subediting: M. S. Salama