The People's Bank of China (the central bank) kept the key lending rate steady at 3.85% for the fifth month in a row, as this measure was in line with expectations.
>
According to CNBC Arabia, the People's Bank of China kept the five-year lending rate at 4.65%.
It is reported that most new and maturing loans are based on the annual base loan rate, while the five-year rate affects mortgage pricing.
The decision came after the People's Bank of China kept the price of the medium-term lending facilities unchanged for the fifth month in a row as well.
and medium-term lending facilities are essential tools of the People's Bank of China to manage the liquidity of the banking system in the long term and act as a benchmark for the prime lending rate.
As for the prime lending rate, it is a reference rate set by 18 banks every month.
(Amazon fun knowledge)
