Chinese Banks Hold Lending Rates as PBOC Remains Cautious

(Bloomberg) — Chinese banks held their main lending rates steady in the absence of more easing from the central bank, which is trying to strike a balance between preventing faster inflation and supporting the economy. 

The one-year loan prime rate (LPR) was left unchanged at 3.7%, in line with all 19 forecasts in a Bloomberg poll of economists, according to a statement by the People’s Bank of China (PBOC) on Wednesday. It was last lowered in January. The five-year rate, a reference for mortgages, was maintained at 4.45%, in line with most projections.