FX.co ★ People's Bank of China (PBoC) Maintains Loan Prime Rate at 3.45% as of March 20, 2024

The People's Bank of China (PBoC) has decided to keep the Loan Prime Rate steady at 3.45% as of March 20, 2024. This rate has remained unchanged from the previous reading, indicating the central bank's stance on monetary policy stability. The PBoC's decision comes as China seeks to balance economic growth with financial stability amidst global economic uncertainties. The Loan Prime Rate is a key benchmark used by Chinese banks to set lending rates for corporate and household loans. Analysts will be closely watching future PBoC moves for any potential shifts in monetary policy direction to navigate the economic landscape effectively.