China keeps LPR steady for 7th consecutive month in Dec

China's Loan Prime Rates (LPR) remained unchanged for the seventh month in a row, with the 1-year rate at 3.0% and the 5-year-plus rate at 3.5%, as stable policy rates and pressure on banks' net interest margins kept banks from adjusting their lending quotes.

On December 22, the People's Bank of China (PBOC) announced through the National Interbank Funding Center that the LPR remained unchanged, with the 1-year rate steady at 3% and the 5-year rate at 3.5%. The LPR remained unchanged in December mainly due to stable policy rates and continued pressure