Chinese Banks Keep Lending Rates Unchanged After PBOC’s Pause

(Bloomberg) — Chinese banks kept their benchmark lending rates unchanged on Thursday, in line with the central bank’s move earlier this week as policymakers assess the economy’s recovery.

The one-year loan prime rate was held at 3.55%, in line with the forecasts from all 21 economists surveyed by Bloomberg. The five-year rate, a reference for mortgages, was also kept at 4.2%, as expected, data from the People’s Bank of China (PBOC) showed.