PBoC leaves prime rates unchanged

The People's Bank of China (PBoC) announced on Monday that it decided to leave the national loan prime rates unchanged in June.

The 1-year loan prime rate was kept at 3.70%, while the 5-year prime rate stayed at 4.45%.

On June 2, PBoC's Deputy Governor Pan Gongsheng said that additional implementation of a "prudent monetary policy" will strengthen its stabilizing effect on the nation's economy and help keep it "operating within a reasonable range."

Baha Breaking News (BBN) / SP