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China's loan prime rates remain unchanged
China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.85 percent Wednesday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 4.65 percent, according to the National Interbank Funding Center (NIFC). The lending rates have remained unchanged for 18 consecutive months since April 2020. China's central bank has reiterated that it will prioritize stability in its monetary policy and avoid making sudden shifts in 2021. Based on bank quotes calculated by adding a few basis ... (full story)