(Bloomberg) — China’s base rate for new corporate loans stayed unchanged in October, defying expectations of a reduction as the economy sees its slowest pace of growth since the early 1990s.The one-year loan prime rate was kept at 4.2%, according to a statement from the central bank on Monday. That compares to the 4.15% median estimate compiled by Bloomberg. The five-year tenor was also kept unchanged at 4.85%.The LPR is a revamped market indicator of the price that lenders charge clients for new loans, and is linked to the rate at which the central bank will lend financial institutions cash …read more
Source:: Yahoo Finance
