China holds loan prime rates unchanged

1- and 5-year loan prime rates constant at 3.55%, 4.2%, respectively

By Tuba Ongun

ANKARA (AA) - The People’s Bank of China on Thursday decided to hold its benchmark lending rates unchanged, in line with market forecasts.

The one-year loan prime rate (LPR) – the medium-term lending facility uses for corporate and household loans – was left at 3.55%.

The five-year LPR, a reference for mortgages, remained at 4.2%.

Earlier this week, the bank kept its medium term facility loan rate unchanged at 2.65%.

In June, the bank slashed one-year and five-year loan prime rates by 10 basis points. It lowered its one-year medium-term lending rate, and also reduced its seven-day reverse repurchase rate.

China's gross domestic product (GDP) grew 6.3% on a yearly basis in the second quarter of this year, faster than expected.

Kaynak:

This news has been read 86 times in total