China kept its benchmark lending rates unchanged in May for the twelfth consecutive month, signalling that policymakers remain cautious about introducing additional monetary easing even as economic momentum shows signs of weakening.
According to a Reuters report, the People’s Bank of China (PBOC) maintained the one-year loan prime rate (LPR) at 3.00%, while the five-year LPR, commonly used as a benchmark for mortgage lending, was left unchanged at 3.50%.
