Asia

China stands pat on lending benchmark LPR in November


SHANGHAI : China stood pat on its benchmark lending rates for corporate and household loans for a 19th month at its November fixing on Monday, in line with market expectations.

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

A snap poll of 23 market participants conducted by Reuters last week found 21 expected 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 Tom Hogue)



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