PBoC holds key lending rates for ninth straight month
Central bank unlikely to cut rates this year amid yuan weakness, analysts say
The People’s Bank of China kept its benchmark lending rates unchanged for the ninth straight month today (May 22), despite recent data suggesting the country’s economic recovery is sputtering.
The PBoC held the one-year loan prime rate (LPR) at 3.65% and maintained the five-year LPR – a reference for mortgage rates – at 4.3%.
The move was widely expected by analysts, after the central bank kept its key policy rate – the one-year medium-term lending facility (MLF) rate – unchanged at 2.75% last
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