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China LPR Steady For 4th Month: PBOC

CHINA RATES
MNI (Sydney)

The PBOC kept its one-year Loan Prime Rate (LPR) unchanged at 3.85% with the five-year LPR steady at 4.65% on Thursday, according to a statement on the PBOC website. The LPR, a new reference rate for bank loans, is anchored to the one-year medium-term lending facility, a rate that is viewed as being closer to market rates for credit. Designated banks will update their LPR quotations based on their borrowing costs on the 20th of each month after the PBOC reformed the LPR mechanism last August. The PBOC skipped trimming the LPR for the fourth month after cutting its one-year LPR by 20 bps and lowering the five-year LPR by 10 bps on April 20.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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