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PBOC leaves Loan Prime Rates unchanged in July
The one-year LPR stays at 3.0% and the five-year LPR remains at 3.5%, with policymakers signaling an easing option as growth slows.
China’s central bank, the People’s Bank of China (PBOC), left its Loan Prime Rates unchanged for July, keeping the one-year LPR at 3.0% and the five-year LPR at 3.5%.
According to FXStreet, the PBOC’s decision is not expected to meaningfully affect the China-proxy Australian dollar, with AUD/USD indicated trading about 0.02% higher near 0.6983 at the time of writing.
FXStreet also noted that the PBOC’s policy objectives include safeguarding price stability, including exchange rate stability, while promoting economic growth.
Separately, Action Forex said the PBOC left the benchmark lending rates unchanged for a 14th consecutive month, as policymakers balanced slowing domestic growth against heightened external uncertainty, while keeping an easing option open.