The People’s Bank of China did not change the benchmark lending rate.
In line with the expectations, the People’s Bank of China kept the benchmark lending rate unchanged at 3.65 percent and the 5-year maturity rate at 4.30 percent.
The People’s Bank of China has kept the interest rate constant for 8 months.
Stating that the first quarter economic data masked weaknesses in both household demand and foreign demand, Chaoping Zhu, global market strategist at JPMorgan Asset Management, said, “Policymakers can make adjustments in structural measures to correct these weaknesses. They can maintain proactive fiscal policy and prudent monetary policy.” .