Chinese Banks Hold Lending Rates as PBOC Refrains From Easing

(Bloomberg) — Chinese banks maintained their benchmark lending rates following the central bank’s recent decision to stand pat on monetary policy.

The one-year loan prime rate (LPR) was held at 3.45% on Wednesday, in line with almost all of the 22 forecasts from economists surveyed by Bloomberg. The five-year rate, a reference for mortgages, was kept at 3.95%, according to the People’s Bank of China (PBOC), also as expected.