BEIJING (Dow Jones) — The People’s Bank of China (PBoC) left its bank lending rate (LPR) benchmark to businesses and households unchanged after adjusting it the previous two months. The country’s central bank said the one-year reference interest rate (Loan Prime Rate – LPR) will remain at 3.7 percent and the five-year LPR at 4.6 percent. The Loan Prime Rate is one of the key interest rates of the PBoC. It reformed it in August 2019 and is used by the banks as a guideline for their lending rates.
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(END) Dow Jones Newswires
February 21, 2022 00:39 ET (05:39 GMT)