The loan prime rate (LPR) is a lending reference rate set monthly by 18 banks. The People’s Bank of China (PBOC) revamped the mechanism to price LPR in August 2019, loosely pegging it to the medium-term lending facility (MLF) rate. Photo: Reuters The loan prime rate (LPR) is a lending reference rate set monthly by 18 banks. The People’s Bank of China (PBOC) revamped the mechanism to price LPR in August 2019, loosely pegging it to the medium-term lending facility (MLF) rate. Photo: Reuters
The loan prime rate (LPR) is a lending reference rate set monthly by 18 banks. The People’s Bank of China (PBOC) revamped the mechanism to price LPR in August 2019, loosely pegging it to the medium-term lending facility (MLF) rate. Photo: Reuters

China keeps benchmark loan rate steady for seventh straight month

  • 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 kept borrowing costs on the medium-term lending facility unchanged for a seventh straight month this week

Topic |   China economy
The loan prime rate (LPR) is a lending reference rate set monthly by 18 banks. The People’s Bank of China (PBOC) revamped the mechanism to price LPR in August 2019, loosely pegging it to the medium-term lending facility (MLF) rate. Photo: Reuters The loan prime rate (LPR) is a lending reference rate set monthly by 18 banks. The People’s Bank of China (PBOC) revamped the mechanism to price LPR in August 2019, loosely pegging it to the medium-term lending facility (MLF) rate. Photo: Reuters
The loan prime rate (LPR) is a lending reference rate set monthly by 18 banks. The People’s Bank of China (PBOC) revamped the mechanism to price LPR in August 2019, loosely pegging it to the medium-term lending facility (MLF) rate. Photo: Reuters
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