China retained its benchmark lending rate for the fourth straight month on Tuesday, providing no hope for the beleaguered housing market and the struggling economy.
The People's Bank of China kept its one-year loan prime rate, or LPR, unchanged at 3.65 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 4.30 percent.
Previously, the bank had reduced the five-year LPR rate by 15 basis points each in May and August, and by 5 basis points in January. The one-year LPR was last lowered in August.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.