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China keeps its reference rates unchanged
China keeps its reference rates unchanged
China’s benchmark policy rates remained unchanged, as expected, after holding rates steady earlier this month after a round of upbeat August data showed signs of stabilization in the world’s second-largest economy.
The prime rate for one-year loans remained stable at 3.45%, while the five-year LPR remained unchanged at 4.2%, the People’s Bank of China said on Wednesday. Prime loan rates are calculated monthly based on the interest rates that 18 designated commercial banks charge their best customers.
THE…
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