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China ‘unsurprisingly’ keeps loan prime rate steady for sixth straight month amid economic recovery

Summary:
[unable to retrieve full-text content]China kept its benchmark lending rate for corporate and household loans steady for the sixth straight month at its October fixing on Tuesday, encouraged by an extended recovery in the world’s second-largest economy from the coronavirus shock.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 – as widely expected by the market.Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing…

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[unable to retrieve full-text content]
China kept its benchmark lending rate for corporate and household loans steady for the sixth straight month at its October fixing on Tuesday, encouraged by an extended recovery in the world’s second-largest economy from the coronavirus shock.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 – as widely expected by the market.Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing…
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