China retained its benchmark lending rates on Friday even after the US Federal Reserve reduced its rate by a sharper-than-expected half a percentage point this week.
The People’s Bank of China kept its one-year loan prime rate unchanged at 3.35 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.85 percent.
The bank had last reduced the LPR in July, by 10 basis points.
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First Published: Sep 20 2024 | 3:43 PM IST