China leaves benchmark lending rate unchanged for 7th straight month as economy recovers further

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China left benchmark lending rate for corporate and household loans unchanged for a seventh consecutive month in November, matching market expectations.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.

The rate decision came after the People’s Bank of China (PBOC) kept borrowing costs on the medium-term lending facility (MLF) unchanged for a seventh straight month this week.

MLF, one of the PBOC’s main tools in managing longer-term liquidity in the banking system, serves . . .

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