China maintains steady loan prime rate at 3.45%

Adding to these developments, the People's Bank of China, on November 15, injected a substantial 1.45 trillion yuan (approximately $202 billion dollars) into the market. This infusion was carried out through the one-year medium-term lending facility (MLF) at an interest rate of 2.5 per cent, aligning with the rates of previous operations, according to Chinese media reports.

In the previous month, the one-year LPR experienced a slight reduction of 10 basis points, bringing it to 3.45 per cent. However, the over-five-year rate remained constant at 4.2 per cent.

ALCHEMPro News Desk (DP)