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China expectedly keeps key lending rates steady after May cut
China expectedly kept its benchmark lending rates unchanged Friday, following the sweeping monetary easing measures rolled out last month to boost growth. The People’s Bank of China held the 1-year loan prime rate at 3.0% and 5-year LPR at 3.5%, according to a statement Friday, in line with Reuters poll estimates. Last month, Chinese authorities cut the lending rates for the first time since October by 10 basis points, in their bid to cushion the impact from trade tensions with Washington. A slew of commercial banks also trimmed their deposit rates to protect their net interest margin. LPR, normally charged to ... (full story)
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