China Effectively Holds 1-Year LPR Benchmark Rate Steady at 3.85% (First Report)
[Asia Economy Reporter Jeong Hyunjin] On the 20th, China froze the 1-year Loan Prime Rate (LPR), which has effectively served as the benchmark interest rate.
According to Bloomberg News, the People's Bank of China announced the 1-year LPR at 3.85% on this day. The 5-year LPR, which affects mortgage loans, was also maintained at the existing rate of 4.65%.
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Last month, the People's Bank of China adjusted the 1-year LPR from 4.05% to 3.85%, and the 5-year LPR from 4.75% to 4.65%.
This content was produced with the assistance of AI translation services.
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