China keeps benchmark lending rate unchanged for sixth straight month, as widely expected

 

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China kept its benchmark lending rate unchanged for the sixth consecutive month at its October fixing on Tuesday, as the world's second largest economy extended recovery from the coronavirus fallout.

The one-year loan prime rate (LPR) was maintained unchanged at 3.85 per cent, while the five-year LPR remained steady at 4.65 per cent, as widely expected by the market.

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

The LPR is a lending reference rate set monthly . . .

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