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The People's Bank of China headquarters in Beijing, December 1, 2022. /CFP
China's central bank kept its market-based benchmark lending rates unchanged for a fourth consecutive month on Tuesday.
The one-year loan prime rate (LPR), which influences most new and outstanding loans in China, stayed at 3.65 percent. The over-five-year LPR, on which many lenders base their mortgage rates, stood at 4.3 percent.
This year, the one-year LPR was cut by 15 basis points (bps), and the over-five-year LPR was lowered by 35 bps.
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Disinformation report hotline: 010-85061466