imageEconomic Indicators8 hours ago (Jun 22, 2020 12:43AM ET)

(C) Reuters.

By Gina Lee – China’s central bank said on Monday that its benchmark lending rate for June would remain unchanged from the previous month, in tune with market expectations.

The People’s Bank of China’s (PBOC) 1-year loan prime rate held steady at 3.85%, while the 5-year loan prime rate remained at 4.65%, the second month in a row in which the rate remained unchanged.

PBOC also said that it rolled over some maturing medium-term loans during the previous week.

Meanwhile, the country has been struggling to recover from the economic impact of COVID-19, with the latest economic indicators showing that while production increased in May, exports decreased during the same month. Beijing has also re-imposed some lockdown measures to curb an outbreak that broke out earlier in month at the XInfadi market.

China Keeps Benchmark Lending Rate Unchanged For Second Consecutive Month

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