Economic Buzz: China Keeps Benchmark Lending Rates Unchanged

21 Jul 2022 , 01:04 PM

Chinas central bank held its benchmark lending rates steady, as widely expected, despite the tightening stance adopted by its global peers. The Peoples Bank of China kept the five-year loan prime rate, or LPR, the benchmark for mortgage rates, unchanged at 4.45 percent. The rate was lowered by a record 15 basis points in May and by five basis points in January. The one-year LPR was also left unchanged at 3.70 percent. Powered by Commodity Insights