Beijing - (Saba):
China on Thursday kept its one-year benchmark lending rate at 3.1 percent, unchanged from the previous month, a benchmark market-based lending rate.
The five-year benchmark lending rate, which many lenders base their mortgage rates on, also remained unchanged from the previous reading of 3.6 percent, according to the National Interbank Finance Center.
The one-year benchmark lending rate and the five-year benchmark lending rate have fallen by 35 basis points and 60 basis points, respectively, since the beginning of 2024, according to the Chinese Xinhua News Agency.
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