China holds benchmark lending rates steady as anticipated

ANKARA: The People's Bank of China on Tuesday kept benchmark lending rates unchanged, in line with market forecast. The one-year loan prime rate (LPR) - the medium-term lending facility used for corporate and household loans - stands at 3.35% while the five-year LPR, the peg for mortgages, remains at 3.85%. In July, China unexpectedly cut major short- and long-term interest rates by 10 basis points, its first such move in almost a year. Source: Anadolu Agency