China keeps loan prime rates unchanged

By Ovunc Kutlu

ANKARA (AA) - The Bank of China on Monday kept its loan prime rates, the benchmark lending rate, unchanged at 3.7%, according to Chinese state-owned media Xinhua.

The five-year loan prime rates, the reference for mortgages, also remained unchanged at 4.65%.

The moves are in line with China’s macroeconomic policy, which aims prioritizing a growth environment.

Chinese economy, the world's second largest, is facing domestic hurdles such as rising coronavirus cases and a slowing real estate market.

The country is targeting around 5.5% economic growth for this year.