China maintained its benchmark lending rates unchanged as expected after the economy showed signs of improvement at the start of the year. At a monthly fixing on Monday, the People's Bank of China kept the one-year loan prime rate at 3.
China left its benchmark lending rates unchanged on Monday after the central bank maintained its medium-term lending facility rate last week. The People's Bank of China maintained its one-year loan prime rate, or LPR, at 3.
China's central bank cut its benchmark lending rate for the first time in 10 months to shore up the economy in the wake of the far-reaching "zero-COVID" policy and a slowdown due to a slump in exports and high youth unemployment rate.