China's key lending rates remained steady after the central bank kept key interest rates unchanged earlier this month, according to data released by the People's Bank of China.
The People's Bank of China said the key interest rate on the one-year loan remained at 3.45%, while the five-year interest rate remained at 4.2%.
Monday's result was expected after the central bank surprised markets by keeping the interest rate on its medium-term lending facilities unchanged earlier this year. Markets were expecting a cut in the interest rate on the Multilateral Fund after Chinese commercial banks cut interest rates on deposits, making room for a reduction in benchmark interest rates on loans.
Chinese banks also price their LPRs based on MLF interest rates.
