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MNI BRIEF: PBOC Keeps April Loan Prime Rate Unchanged

MNI (Singapore)
BEIJING (MNI)
True

China's central bank on Wednesday left its benchmark rates for loans unchanged, according to a statement on the People's Bank of China website. The move was expected by some market analysts after the PBOC cut the reserve requirement ratio and left unchanged another key policy rate last week.

The Loan Prime Rate, guiding companies' cost of borrowing, remains at 3.70% for the one-year maturity and 4.60% for five years. The PBOC left the rate on 1-year Medium-term Lending Facility, seen as being close to market rates and linked to LPR, at 2.85% on April.15 when it rolled over the maturing CNY150 billion MLF.

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China's central bank on Wednesday left its benchmark rates for loans unchanged, according to a statement on the People's Bank of China website. The move was expected by some market analysts after the PBOC cut the reserve requirement ratio and left unchanged another key policy rate last week.

The Loan Prime Rate, guiding companies' cost of borrowing, remains at 3.70% for the one-year maturity and 4.60% for five years. The PBOC left the rate on 1-year Medium-term Lending Facility, seen as being close to market rates and linked to LPR, at 2.85% on April.15 when it rolled over the maturing CNY150 billion MLF.

Keep reading...Show less