The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from 3.6 per cent earlier, a state-controlled media outlet reported.
Despite being flat, the LPR saw cumulative drops of 35 basis points for the one-year rate and 60 basis points for the over-five-year rate last year, marking the largest annual reductions on record.
China has stepped up counter-cyclical adjustments in the face of downward pressure on the economy since last year.
It will further strengthen such adjustments by leveraging a range of monetary policy tools, including interest rates and the reserve requirement ratios, to maintain ample liquidity and ensure a supportive environment for social financing, said Xuan Changneng, deputy governor of the People's Bank of China told a press conference last month.
A PBOC report released earlier this month also highlighted the need for enhanced analysis and oversight of liquidity supply and demand within the banking system and financial markets.
ALCHEMPro News Desk (DS)
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