The People's Bank of China (PBoC) announced it will keep its one-year loan prime rate (LPR) unchanged at 3.45%.
Meanwhile, the bank's five-year loan prime rate remained at 3.95%, matching its previous decision.
The bank previously lowered its five-year loan prime rate by 25 basis points from 4.2% to the current 3.95% in February, marking the first shift in the rate since June of 2023 when it was lowered by 10 basis points to 4.2%. The cut was also the largest since the introduction of that rate in 2019. The PBoC cut its one-year loan prime rate by 0.1 percentage points in August of 2023 and kept the rate steady since.