China's loan prime rates remain steady after July cut
epa11556025 People stand in front of a Bank of China branch in Shanghai, China, 19 August 2024 (issued 20 August 2024). The People's Bank of China decided to keep key lending rates unchanged at the August fixing, in line with market expectations. The one-year loan prime rate (LPR), used as the benchmark for most corporate and household loans, remained at 3.45 percent, with the five-year rate, which serves as a reference for property mortgages, at 3.85 percent. The rates are currently at record lows, following unexpected rate cuts in July. EPA/ALEX PLAVEVSKI
