China kept its benchmark lending rate steady for the third straight month on Monday, matching market expectations, amid signs that the world's second-largest economy is recovering from the shock coronavirus pandemic.
FILE PHOTO: A woman wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee/File Photo
The one-year loan prime rate CNYLPR1Y=CFXS was kept unchanged at 3.85%, while the five-year LPR CNYLPR5Y=CFXS remained at 4.65%. Thirty-four out of 36 participants in a Reuters survey had expected no adjustment to LPR in July after the People’s Bank of China kept borrowing cost on medium-term lending facility unchanged last week. [nL3N2ER08L]
The interest rate on one-year MLF loans to financial institutions CNMLF1YRRP=PBOC also stayed unchanged at 2.95% for three straight months.
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