China 1-Year Loan Prime Rate Unchanged at 3.0% — WSJ

Major Chinese banks kept their key lending rates unchanged Sunday, as policymakers held off further monetary easing despite falling investment and sluggish consumption at home.

China's one-year loan prime rate remained at 3.0% and the five-year rate at 3.5%, according to data released Sunday by the People's Bank of China. Both rates have remained unchanged since May of last year.

Sunday's decision came despite key indicators pointing to struggling China's domestic demand including consumption and investment in recent months. As robust exports have been putting a floor under growth, economists expect no immediate stimulus measures in the near future.

"Beijing is doubling down on technology while accepting deeper domestic and external imbalances," said economists at Société Générale in a recent note. "Policy is set to remain selectively supportive rather than reflationary, prioritising strategic industries over broad demand stimulus." they added.