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10/20/2020 01:31:43 GMT

PBOC keeps one-year Loan Prime Rate unchanged at 3.85% in October

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) kept the one-year Loan Prime Rate (LPR) unchanged at 3.85% in October while maintaining the five-year LPR at 4.65%.

The Chinese central bank left the rates unchanged for the sixth straight month.

According to the latest Reuters poll, nearly 90% of the analysts predicted no change in either the one-year LPR or the five-year tenor.

Market reaction

AUD/USD paid little attention to the PBOC rate decision, as it wallowed near three-week low sub-0.7050 on dovish RBA minutes.

The spot currently trades at 0.7039, down 0.40% on the day.

USD/CNH sidelined near 6.67 after PBOC's status quo rate decision

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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