At 3%.. China keeps the main interest rates for loans unchanged
kept China Yesterday, The main interest rates for loans with a term of one year, which is a standard market-based lending rate, remained unchanged from the previous month, remaining at 3%.
The National Center for Interbank Finance in China explained – according to the Xinhua News Agency – that the main interest rate for loans over 5 years, which many lenders rely on in setting mortgage rates, remained unchanged from the previous reading of 3.5%.
The level of financing costs
And the rates reflect The main benefit of loans is the level of financing costs for families and companies, as lower interest rates would reduce the burden on borrowers, which in turn leads to more investment and consumption.
Interest rates remained at Newly issued loans in China are relatively low.
Relevant data indicated that the weighted average interest rate on new loans to companies last March was about 3.1%, that is, about 25 basis points lower than what was recorded in the same month of the previous year.
While the average interest rate on new personal housing loans was 3.1%, that is, about 6 basis points lower than what was recorded in the same month of the previous year.
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