Posted 10/20/2023, 9:02:07 AM
China Maintains Key Lending Rates Steady in June as Economy Strengthens
- China keeps benchmark lending rates unchanged in June as economic recovery strengthens
- 1-year loan prime rate stays at 3.45%, over 5-year rate at 4.2%
- Rates align with market expectations after anchoring MLF rate stays unchanged
- Recent data shows economic recovery solidifying, reducing need for rate cuts
- PBOC expected to maintain prudent monetary policy to ensure liquidity
- Policy aims to boost domestic demand, restore confidence and support growth