China’s Loan Prime Rates Remain Unchanged

China’s benchmark lending rate remained unchanged in September, the country’s central bank announced on Friday. China’s one-year Loan Prime Rate (LPR), a market-based benchmark lending rate, came in at 3.35 percent Friday, 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 3.85 percent, according to the National Interbank Funding Center. The LPR is the most preferential lending rate offered by a commercial bank to its prime clients, and serves as a reference for other lending rates across the economy.