China Economy

China keeps benchmark lending rate steady for 12th straight month as expected

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Key Points
  • China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations.
  • The one-year loan prime rate (LPR) was kept at 3.85%. The five-year LPR remained at 4.65%.
A man counts 100 RMB notes with the Chinese flag in the background.
Sheldon Cooper | SOPA Images | LightRocket via Getty Images

China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations.

The one-year loan prime rate (LPR) was kept at 3.85%. The five-year LPR remained at 4.65%.

Twenty-seven traders and analysts of 30 participants in a Reuters poll this week predicted no change in either rate.

Most new and outstanding loans in China are based on the one-year LPR. The five-year rate influences the pricing of mortgages.