China’s c. bank keeps key lending rates steady

The People’s Bank of China (PBC) decided to maintain its key lending rates unchanged, according to its statement on Wednesday.

The one-year Loan Prime Rate (LPR), the benchmark for most loans, will remain at 3.1 per cent, and the five-year LPR used for mortgages, will be held at 3.6 per cent.

Beijing has introduced various stimulus measures since late September to boost the economy, including monetary easing, fiscal support, and assistance for the property market, aiming to steer the economy towards the government’s growth target.

Attribution: People’s Bank of China report, Reuters

Subediting: M. S. Salama