20th April 2023 – (Beijing) China’s one-year loan prime rate (LPR), a market-based benchmark lending rate, has remained steady at 3.65 percent on Thursday, unchanged from the previous month. The over-five-year LPR, which is used by many lenders to determine mortgage rates, also remained unchanged from the previous reading of 4.3 percent, according to the National Interbank Funding Center.
The decision to keep the rates unchanged is in line with the country’s efforts to maintain stability and support economic growth amid uncertainties caused by the COVID-19 pandemic. The central bank has previously stated that it will continue with a prudent monetary policy and maintain the stability of the yuan exchange rate while balancing the need for economic growth and financial risk prevention.
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