Breaking
[Breaking News] People's Bank of China Effectively Maintains Benchmark Loan Prime Rate Unchanged
Uk Jin
Summary
- The People's Bank of China announced that it has kept the Loan Prime Rate (LPR), which effectively serves as the benchmark rate, unchanged.
- It was reported that this freeze matches market expectations.
- The People's Bank of China has maintained the freeze for two consecutive months following a 10bp cut in April.
According to the industry on the 21st, the People's Bank of China announced that it has set the one-year and five-year loan prime rates (LPR), which effectively serve as the benchmark rates, at 3.0% and 3.5% respectively. These figures are in line with market expectations.
The People's Bank of China maintained this freeze for the second consecutive month after cutting the 1-year and 5-year LPR by 10bp (1bp=0.01% point) in April this year.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
