empty
 
 

2022.03.2106:13:00UTC+00China Leaves Interest Rates Unchanged

China left its benchmark lending rates unchanged, as widely expected, on Monday.

The one-year loan prime rate was retained at 3.70 percent and the five-year LPR, the benchmark for mortgage rates, was maintained at 4.60 percent.

In January, the one-year loan prime rate was reduced by 5 basis points, which was the second consecutive reduction and the five-year LPR was lowered for the first time since April 2020.

The loan prime rate is fixed monthly based on the submission of 18 banks, though Beijing has influence over the rate-setting. This lending rate replaced the central bank's traditional benchmark lending rate in August 2019.

Last week, the central bank had kept the rate on its one-year medium-term lending facility unchanged at 2.85 percent. The bank injected a net CNY 100 billion into the banking system.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback