Update: China's loan prime rates remain unchanged
Xinhua
20 Nov 2023, 10:00 GMT+10
BEIJING, Nov. 20 (Xinhua) -- China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.45 percent Monday, unchanged from the previous month.
The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 4.2 percent, according to the National Interbank Funding Center.
Based on the quotes made by quoting banks by adding a few basis points to the interest rate of open-market operations, the LPR is calculated by the center, serving as the pricing reference for bank lending.
"Generally speaking, if the interest rate of the one-year medium-term lending facility (MLF) remains unchanged, the probability of an LPR change is low," said Dong Ximiao, chief researcher at Merchants Union Consumer Finance Company Limited.
On Nov. 15 this year, the People's Bank of China injected 1.45 trillion yuan (about 202 billion U.S. dollars) into the market through one-year MLF with an interest rate of 2.5 percent, the same rate as the previous operation.
The MLF tool helps commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.
Share
Tweet
Share
Flip
Email
Subscribe and Follow
Get a daily dose of China National News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to China National News.
More InformationU.S. stock markets slide resumes, major indices tumble
NEW YORK, New York - U.S. stocks fell sharply Thursday, wiping out much of the gains that came in the relief rally a day earlier after...
Hollywood pushes for more tax breaks to keep productions in LA
LOS ANGELES, California: Over the weekend, hundreds of Hollywood workers, including crew members, producers, and actors, asked California...
EU official warns of harsh impact from new US tariffs
ATHENS, Greece: As Europe braces for the economic fallout of new U.S. tariffs, a top eurozone official has warned the consequences...
Soaring prices squeeze Bolivian families amid 20-year inflation high
LA PAZ, Bolivia: Rising prices are changing daily life for Bolivians, forcing families to cut back as inflation hits its highest levels...
Nasdaq Composite surges more than 12% as Trump agrees he misfired
NEW YORK, New York - U.S. stocks roared back to life on Wednesday after U.S. President Donald Trump back flipped on his recently announced...
Texas probes WK Kellogg over ‘healthy’ label claims
AUSTIN, Texas: Attorney General Ken Paxton announced over the weekend that the state has launched an investigation into a company,...
Xi Jinping begins meetings with Community Party members
BEIJING, China -- The Communist Party of China has launched a four-month campaign to urge its around 100 million members to bolster...
Japan’s auto industry at risk from new US tariffs, says UN agency
GENEVA, Switzerland: Japan's car industry is facing a multibillion-dollar blow as sweeping U.S. auto tariffs threaten its largest export...
Philippines says F-16 purchase not targeting China, any others
MANILA, Philippines: A Philippine security official stated that acquiring F-16 fighter jets from the United States will not harm any...
Update: Xi to pay state visits to Vietnam, Malaysia, Cambodia from April 14 to 18
BEIJING, April 11 (Xinhua) -- General Secretary of the Communist Party of China Central Committee and Chinese President Xi Jinping...
Xinhua Photo Daily | April 11, 2025
BEIJING, April 11 (Xinhua) -- A selection of the best press photos from Xinhua.A researcher displays the lunar sample to be tested...
Opinion: Why U.S. "tariff extortion" against China is failing
U.S. President Donald Trump shows an executive order on reciprocal tariffs at the Rose Garden of the White House in Washington, D.C.,...
