December 20, 2019
China’s central bank left its new policy rate steady at 4.15 percent following three cuts since the one-year Loan Prime Rate (LPR) was designated as the benchmark lending rate in August.
The People’s Bank of China (PBOC) also left the 5-year LPR rate, used to price home mortgages, at 4.80 percent in a release on its website.
The decision comes two days after the interest rate on 14-day reverse repurchase agreements was lowered by 5 basis points to 2.65 percent while the 7-day rate, which was cut was 5 points in November for the first time in more than four years, was left unchanged at 2.50 percent.
