(MENAFN)
Unaltered from the past month, the one-year loan prime rate of China (LPR), a market-based benchmark lending rate, amounted 3.85 percent this Tuesday.
According to the National Interbank Funding Center (NIFC), stability was also observed in the over-five-year LPR, on which many lenders base their mortgage rates, with a reading of 4.65 percent which is the same as the past year.
Wen Bin, chief analyst at China Minsheng Bank stated that, for six months in a row the lending rates stayed stable since the month of May of the current year, corresponding actual economic basis and the inflation level that shows China's wise monetary policy is more supple and suitable.
In order to preserve rational and enough market liquidity and generally steady market interest rates, Wen expects the central bank will keep on improving its open market processes.
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