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The PBOC kept its one-year Loan Prime Rate....>

CHINA
CHINA: The PBOC kept its one-year Loan Prime Rate (LPR) unchanged at 3.85% with
the five-year LPR steady at 4.65% on Monday, 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 third month
after cutting its one-year LPR by 20 bps and lowering the five-year LPR by 10
bps on April 20.

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