China kept benchmark lending rate unchanged, PBOC expected to stay put for a while

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China as expected kept its benchmark lending rate unchanged for the fourth straight month. Analysts say the central bank will stay put for a while as the economy continues to recover from the coronavirus fallout.

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.

That's consistent with the earlier comment by the central bank that . . .

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