China central bank keeps benchmark loan rate stable for 7th month

Author: Fanny Zhang

2020/11/20

SINGAPORE (ICIS)--China’s central bank maintained its benchmark lending rates stable for the seventh straight month, in line with market expectations.

The one-year loan prime rate (LPR) remained at 3.85%, while the rate for five-year loan stays at 4.65%, the People’s Bank of China (PBoC) said on Friday.

The decision is in line with market expectations.

Overall lending in the world’s second-biggest economy has been rising continuously in recent months amid continued recovery in economic activity.

This negates the need for the central bank to adjust down benchmark loan rates, according to analysts.

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