China keeps benchmark lending rates unchanged for 16th month in September

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China has frozen the Loan Prime Rate (LPR) for the 16th consecutive month. In China, the LPR effectively serves as the benchmark interest rate, and the stance of freezing the rate was maintained as expected by the market. On the 20th, the People's Bank of China, the country's central bank, announced that it would maintain the 1-year LPR, which serves as the benchmark for general loans, at 3.0%, and the 5-year LPR, which serves as the benchmark f…

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(Beijing=Yonhap News) Correspondent Jung Sung-jo = China maintained its stance of freezing the Loan Prime Rate (LPR), which serves as the de facto benchmark interest rate, for the 16th consecutive month, as expected by the market...