SHANGHAI : China kept its benchmark interest rate for corporate and household lending unchanged at its monthly setting on Monday, as expected by traders and analysts.
The one-year loan prime rate was held at 3.70per cent while the five-year LPR remained at 4.60per cent. Just over half the traders and analysts surveyed in a snap Reuters poll last week expected China to keep both rates unchanged. Most new and outstanding loans in China are based on the one-year LPR. The five-year rate influences the pricing of mortgages.
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