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China keeps loan rate steady for third straight month with ‘inaction not surprising’ as economy improves

Summary:
[unable to retrieve full-text content]China kept its benchmark lending rate steady for the third straight month on Monday, matching market expectations, amid signs that the world’s second-largest economy is recovering from the shock coronavirus pandemic.The one-year loan prime rate (LPR) was kept unchanged at 3.85 per cent, while the five-year LPR remained at 4.65 per cent.Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing of mortgages.Thirty-four out of 36 participants in a Reuters…

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[unable to retrieve full-text content]
China kept its benchmark lending rate steady for the third straight month on Monday, matching market expectations, amid signs that the world’s second-largest economy is recovering from the shock coronavirus pandemic.The one-year loan prime rate (LPR) was kept unchanged at 3.85 per cent, while the five-year LPR remained at 4.65 per cent.Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing of mortgages.Thirty-four out of 36 participants in a Reuters…
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