China’s one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.45 percent Wednesday, unchanged from the previous month.
The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 4.2 percent, according to the National Interbank Funding Center.
Last month, the one-year rate went down by 10 basis points to 3.45 percent, while the over-five-year rate stood unchanged at 4.2 percent.
The monthly data is a pricing reference rate for banks, based on rates of the central bank’s open market operations, especially the medium-term lending facility rate.
