People's Bank of China keeps benchmark rate at 3%
The five-year rate also remained unchanged at 3.5%; both rates have been held at these levels for the 17th consecutive month
20 Oct, 12:16Read in Russian
The annual Loan Prime Rate (LPR) was left at 3%. The five-year rate determines mortgage costs, while the annual rate applies to other loans.
The key tool of monetary policy remains the seven-day reverse repo rate. The day before, the Governor of the People's Bank of China, Pan Gongsheng, stated that over time, it would be replaced by the overnight reverse repo rate.
Advertisement
Original source: People's Bank of China
Based on a report by: Interfax
