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MNI BRIEF: China’s Aug Loan Prime Rate Unchanged

MNI (Singapore)
(MNI)Beijing
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China's Loan Prime Rate remained unchanged on Tuesday according to a People's Bank of China statement, in line with market's expectation, and as the central bank continued to hold the key 7-day reverse repo rate stable.

The Loan Prime Rate remained at 3.35% for the one-year maturity and 3.85% for the over five-year tenor. Both rates unexpectedly fell last month by 10 basis points after the central bank lowered the 7-day reverse repo rate by the same level. (See MNI PBOC WATCH: Aug LPR To Hold Steady, Policy Easing Ahead)

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China's Loan Prime Rate remained unchanged on Tuesday according to a People's Bank of China statement, in line with market's expectation, and as the central bank continued to hold the key 7-day reverse repo rate stable.

The Loan Prime Rate remained at 3.35% for the one-year maturity and 3.85% for the over five-year tenor. Both rates unexpectedly fell last month by 10 basis points after the central bank lowered the 7-day reverse repo rate by the same level. (See MNI PBOC WATCH: Aug LPR To Hold Steady, Policy Easing Ahead)

Keep reading...Show less