Chinese Banks Keep Loan Rates Unchanged, Likely to Cut Next Year
- Economists see chance of cut to 5-year rate to help housing
- PBOC expected to keep loose policy stance as economy reopens
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Chinese banks maintained their benchmark lending rates for a fourth month, with economists predicting a possible reduction to the mortgage reference rate in coming months to help the struggling property sector.
The one-year loan prime rate was left at 3.65%, the People’s Bank of China said Tuesday, in line with most forecasts in a Bloomberg poll of economists. The five-year rate, a reference for mortgages, was also kept unchanged at 4.3%.