China holds key lending rates
PBoC continues to diverge from counterparts overseas as it sticks with easy policy
The People’s Bank of China again held its benchmark lending rates unchanged, at a time when central banks around the world are tightening monetary policy to fight inflation.
At its monthly fixing today (July 20), the PBoC kept the one-year loan prime rate, or LPR, steady at 3.7%. It last lowered the rate in January.
The five-year LPR, a reference for mortgages, was maintained at 4.45%, though some analysts had expected the central bank to lower it to help the ailing property sector. The PBoC
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