China Central Bank Faces More Rate-Cut Calls to Spur Growth
- Loan prime rates kept unchanged on Monday, as expected
- Some economists say rate cuts, RRR reductions needed
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Chinese banks kept their benchmark lending rates unchanged Monday, although calls are growing for more central bank easing to spur the economy’s recovery.
Commercial lenders kept their one- and five-year loan prime rates unchanged for a ninth consecutive month in May, in line with forecasts from most economists. The LPRs are calculated as a spread over the rate on the People’s Bank of China’s one-year policy loans, which was kept steady last week.