Economic Buzz: China holds LPR steady for 6th consecutive time
China expectedly kept its loan prime rates unchanged Monday, with the 1-year LPR at 3.1% and the 5-year at 3.6% as the central bank appears focused on stabilizing the yuan amid trade tensions with the U.S.
The decision from the People's Bank of China comes as China reported better-than-expected economic data this month, with first-quarter GDP growing at 5.4% year on year, allowing it room to keep rates steady.