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China's 1-year loan prime rate steady at 3.45%
22 Jan '24
1 min read
Pic: Adobe Stock
Insights
- China's one-year loan prime rate (LPR) remains constant at 3.45 per cent, as per the National Interbank Funding Center.
- Unchanged since August 2023, it was last reduced by 10 basis points.
- The country's over-five-year LPR also remains steady at 4.2 per cent, maintaining its level since the last 10 basis point cut in June of the previous year.
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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