China's loan prime rates remain unchanged
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E-mail Xinhua, March 20, 2023
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China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.65 percent Monday, unchanged from the previous month.
The over-five-year LPR, on which many lenders base their mortgage rates, remained unchanged from the previous reading of 4.3 percent, according to the National Interbank Funding Center.
China lowered the one-year rate by 5 basis points to 3.65 percent in August 2022. The over-five-year rate was also slashed last year.
The monthly data is a pricing reference rate for banks and is based on rates of the central bank's open market operations, especially the medium-term lending facility rate.
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