China Holds Loan Prime Rate Steady for Sixth Straight Month
Tang Shihua
DATE:  Oct 20 2020
/ SOURCE:  Yicai
China Holds Loan Prime Rate Steady for Sixth Straight Month China Holds Loan Prime Rate Steady for Sixth Straight Month

(Yicai Global) Oct. 20 -- The People's Bank of China kept its benchmark loan prime rate unchanged for a sixth month in a row today.

The one-year LPR stayed at 3.85 percent and the five-year rate remained at 4.65 percent, the central bank said in a statement. The PBOC cut the reference rate, which is reviewed each month, in April.

The LPR reflects the reported loan rates from 18 representative banks' best clients. 

Meanwhile, the PBOC also injected CNY70 billion (USD1.5 billion) into the country’s financial system today in open market operations to maintain "reasonably ample" liquidity, it said.

Editor: Emmi Laine 

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Keywords:   Loan Prime Rate,Benchmark Rate,PBOC