China holds benchmark lending rates steady as expected
ReutersMar 20, 2025 1:03 AM
SHANGHAI, March 20 (Reuters) - China held benchmark lending rates steady for the fifth straight month in March on Thursday, matching market expectations.
The one-year loan prime rate (LPR) CNYLPR1Y=CFXS was kept at 3.1%, while the five-year LPR CNYLPR5Y=CFXS was unchanged at 3.6%.
In a Reuters poll of 33 market participants conducted this week, 29, or 88% of them expected no changes to either of the two rates.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
In October 2024, Chinese lenders slashed lending benchmarks by bigger-than-expected margins to revive economic activity.
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