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MNI BRIEF: China July Loan Prime Rate Kept Unchanged

Expectations were for a steady LPR.

True

China’s reference lending rate remained unchanged on Wednesday, according to a statement on the People's Bank of China website, which was in line with market expectations after the central bank maintained a key policy rate last week.

The Loan Prime Rate, based on the rate of PBOC’s Medium-term Lending Facility and quotes submitted by 18 banks, remains at 3.70% for the one-year maturity and 4.45% for five years. The PBOC left the rate on its 1-year MLF unchanged at 2.85% on July 15 when it rolled over the CNY100 billion maturing under the facility, (See: MNI STATE OF PLAY: China LPR Seen Steady As Deposit Rates Key).

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China’s reference lending rate remained unchanged on Wednesday, according to a statement on the People's Bank of China website, which was in line with market expectations after the central bank maintained a key policy rate last week.

The Loan Prime Rate, based on the rate of PBOC’s Medium-term Lending Facility and quotes submitted by 18 banks, remains at 3.70% for the one-year maturity and 4.45% for five years. The PBOC left the rate on its 1-year MLF unchanged at 2.85% on July 15 when it rolled over the CNY100 billion maturing under the facility, (See: MNI STATE OF PLAY: China LPR Seen Steady As Deposit Rates Key).

Keep reading...Show less