China leaves benchmark lending rates unchanged as forecast

By Tuba Ongun

The People’s Bank of China (PBoC) kept benchmark lending rates constant at record lows on Monday, meeting the market forecast.

The one-year loan prime rate (LPR) – the medium-term lending facility used for most corporate and household loans – was held at 3.45% while the five-year LPR, the peg for mortgages, was left at 3.95%

Last week, the bank held its key policy rate, called the medium-term lending facility rate (MLF), steady.