The People's Bank of China (PBOC) has set the one-year loan prime rate (LPR) unchanged at 4.20% versus an expected cut to 4.15%.
The LPR is set once a month, based on a spread above the Medium-Term Lending Facility (MFL) rate.
The central bank's decision to keep rates unchanged may bode well for China's Yuan. As of writing, the offshore rate, as represented by USD/CNH, is trading largely unchanged on the day at 7.07.
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