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China's 5-Year LPR Can Be Lowered In Q3-News

CHINA PRESS
MNI (Singapore)

The benchmark Loan Prime Rate for five-year maturity and above, which lenders base their mortgage rates, still has downward space in Q3 to help boost the property market and stabilise economic growth, the Shanghai Securities News reported citing analysts. Considering the expected monetary tightening overseas, the People’s Bank of China will focus on keeping policy rates such as the rate of Medium-term Lending Facility stable while guiding actual loan interest rates down to lower the financing cost of the real economy, the newspaper said citing analysts. The one-year and five-year LPR was kept unchanged at 3.7% and 4.45% on Wednesday, respectively.

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