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PBOC keeps China’s Loan Prime Rates unchanged for August

China’s one-year LPR stays at 3.0% and the five-year LPR holds at 3.5%, a decision that can affect loan and mortgage rates as well as renminbi expectations.

Reported · Written up by our desk · Central Banks

The People’s Bank of China said it will leave its Loan Prime Rates unchanged on Thursday for August, keeping the one-year LPR at 3.0% and the five-year LPR at 3.5%.

As China’s benchmark lending rates, the LPRs influence the interest rates charged on loans and mortgages, and also the returns paid on savings, according to FXStreet.

The PBOC also aims to safeguard price stability, including exchange rate stability, while promoting economic growth and implementing financial reforms.

At the time of writing, AUD/USD was trading 0.14% lower on the day at 0.7115, FXStreet reported, in the broader context of the central bank’s rate stance.

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