China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3 percent Thursday, unchanged from the previous month.
The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.5 percent, according to the National Interbank Funding Center.
The LPR is a benchmark reference interest rate for bank loans, published on a monthly basis. Often described as the "reference price" for lending, it directly influences the borrowing costs for both businesses and individuals, and each monthly LPR quotation remains effective until the next scheduled announcement.
China's loan prime rates remain unchanged in August
