China’s five-year loan prime rate, which commercial banks use as a benchmark to adjust their mortgage rates, was lowered from 4.2 to 3.95 per cent, the People’s Bank of China said on Tuesday.
China’s one-year loan prime rate (LPR) was kept at 3.65 per cent, while the five-year LPR was also left unchanged, but despite recovering economic momentum, some analysts expect rates will ease after the ‘two sessions’ in March.
China held its one-year loan prime rate (LPR), the People’s Bank of China (PBOC) said on Friday, but cut the five-year LPR used as a reference for mortgages.
China has left its one-year loan prime rate (LPR) at 3.7 per cent, while the five-year LPR used for mortgages was unchanged at 4.6 per cent, showing a more cautious approach to supporting the economy.