China left the loan prime rate (LPR) unchanged for a ninth straight month on the 24th. China last month cut rates and raised the loan limit for rural areas, small businesses, and the science and technology sector, but it is expected to hold off on additional easing measures for the time being.
The People's Bank of China announced that it would maintain the 5-year LPR, which serves as the benchmark for mortgage loans, at 3.5%, and the 1-year LPR, which serves as the benchmark for general loans, at 3.0%.
The People's Bank of China cut both the 5-year and 1-year LPRs by 0.1 percentage point last May, after seven months of no change, as pressure for economic stimulus mounted amid tariff disputes with the Donald Trump administration in the United States. Since then, it has kept rates unchanged for nine consecutive months through this month.