China keeps benchmark lending rate unchanged for third straight month as economy recovers further

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China kept its benchmark lending rate unchanged for the third straight month on Monday, matching market expectations, amid signs that the world’s second-largest economy is recovering from the shock coronavirus pandemic.

The one-year loan prime rate (LPR) was kept unchanged at 3.85 per cent, while the five-year LPR remained at 4.65 per cent.

Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing of mortgages.

The inaction by the PBOC is within market expectation as the central bank maintained . . .

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