China maintained its benchmark interest rates for the seventh straight month, as widely expected, on Monday.
The People's Bank of China left its one-year loan prime rate unchanged at 3.0 percent on Monday. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent.
The bank had reduced its both LPRs by quarter points in October 2024 and 10 basis points each in May.
The PBoC fixes the LPR monthly based on the submission of 20 designated banks. However, Beijing has influence over the fixing. The LPR replaced the traditional benchmark lending rate in August 2019.
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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.