Dec 20, 2022 04:27 PM

FINANCE

Chinese Banks Keep Lending Rates Unchanged After PBOC’s Hold

pictureThe LPRs are based on the interest rates that 18 banks offer their best customers and are published by the PBOC monthly. Photo: Bloomberg

pictureThe LPRs are based on the interest rates that 18 banks offer their best customers and are published by the PBOC monthly. Photo: Bloomberg

(Bloomberg) — Chinese banks maintained their benchmark lending rates for a fourth month after the central bank kept its monetary policy settings unchanged last week.

The one-year loan prime rate was left at 3.65%, according to a statement by the People’s Bank of China (PBOC) on Tuesday. All but one of the 18 economists surveyed by Bloomberg expected the rate to stay on hold.

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