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China's 1-year loan prime rate steady at 3.45%

22 Jan '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

China's one-year loan prime rate (LPR) remains steady at 3.45 per cent, according to the National Interbank Funding Center. This key market-based benchmark lending rate has not changed since its previous adjustment in August 2023 when it was reduced by 10 basis points.

Similarly, the over-five-year LPR, which is a crucial reference for many lenders in setting their mortgage rates, also continues to be unchanged, holding at the previous level of 4.2 per cent. This rate was last adjusted in June of the previous year, experiencing a decrease of 10 basis points.

Fibre2Fashion News Desk (DP)

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