China leaves lending benchmark rate steady for 12th straight month

BY Reuters | ECONOMIC | 04/19/21 09:35 PM EDT

SHANGHAI, April 20 (Reuters) - China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations.

The one-year loan prime rate (LPR) was kept at 3.85%. The five-year LPR remained at 4.65%.

Twenty-seven traders and analysts of 30 participants in a Reuters poll this week predicted no change in either rate.

Most new and outstanding loans in China are based on the one-year LPR. The five-year rate influences the pricing of mortgages.

(Reporting by Winni Zhou and Andrew Galbraith; Editing by Kim Coghill)

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