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Sept 20 (LTIT) –The People's Bank of China lowered the loan prime rate for one-year lending by 5 basis points this morning, but left the five-year rate untouched. The rate, which governs what commercial banks can charge their most credit-worthy customers, is now 4.2 percent for 12-month loans and 4.85 percent for five-year lending. The central bank's National Interbank Funding Center sets the two rates at 9.30 a.m. on the 20th day of every month, basing them on market-led medium-term lending facilities. |
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