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Commodity Mid Session News

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(20 Dec 2024, 12:07)

Economic Buzz: China keeps interest rates unchanged

The People's Bank of China kept its interest rates unchanged on Friday. The PBoC maintained its one-year loan prime rate at 3.10 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.60 percent. The bank had cut its both LPRs by 25 basis points each in October. The PBoC fixes the LPR monthly based on the submission of 18 designated banks. However, Beijing has influence over the fixing.
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