Balanced News: China leaves benchmark lending rates unchanged in September

China has decided to keep its benchmark loan rates unchanged for September, signaling a stabilization in the country’s economy. The one-year loan prime rate, which affects most household and corporate loans, will remain at 3.45%, while the five-year benchmark loan rate, which impacts most mortgages, will be held at 4.2%. This decision aligns with economists’ expectations and follows the People’s Bank of China’s recent steady policy rate and reserve requirement ratio cuts. The loan prime rate is determined monthly based on proposed rates from 18 designated commercial banks.