China Holds Benchmark Lending Rates Steady
China left its benchmark lending rates unchanged for the fifteenth consecutive month in August. The one-year and five-year loan prime rates remained steady as policymakers rely on fiscal measures.
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China kept benchmark lending rates unchanged for the 15th consecutive month on Thursday morning, holding the one-year loan prime rate at 3.00%. The decision matched all forecasts in a survey of 25 market participants. Policymakers opted to bypass fresh monetary easing as commercial lenders grapple with tight net interest margins.
