China’s Banks Keep Lending Rates Steady After PBOC Holds

(Bloomberg) — Chinese banks kept their benchmark lending rates unchanged for a ninth consecutive month following the central bank’s decision to maintain its policy rates.

The one-year loan prime rate was maintained at 3.65%, the People’s Bank of China said Monday, in line with 16 of the 18 forecasts from economists surveyed by Bloomberg. The five-year rate, a reference for mortgages, was also held at 4.3%, as most economists expected.