China's LPR was unchanged for the 15th consecutive month. On Aug 20 the PBOC authorized the National Interbank Funding Center to publish the rates: 1-year LPR 3.00%, 5-year-plus LPR 3.50%. Analysts say a steady LPR is consistent with current policy rates and banks' net interest margins. Since late July the DR (bond repo rate for deposit-taking financial institutions) benchmark lending mechanism has been implemented; the dual-anchor framework is expected to further improve LPR quoting efficiency

China's LPR was unchanged for the 15th consecutive month. On Aug 20 the PBOC authorized the National Interbank Funding Center to publish the rates: 1-year LPR 3.00%, 5-year-plus LPR 3.50%. Analysts say a steady LPR is consistent with current policy rates and banks' net interest margins. Since late July the DR (bond repo rate for deposit-taking financial institutions) benchmark lending mechanism has been implemented; the dual-anchor framework is expected to further improve LPR quoting efficiency and loan-pricing quality.