China’s central bank, in its monthly interest rate decision on Wednesday, left the key interest rates unchanged, as expected. The one-year loan prime rate (LPR) was kept at 3.45 percent, while the five-year LPR remained unchanged at 4.20 percent. Most new and outstanding loans in China are based on the one-year LPR. It has been lowered twice by a total of 20 basis points until 2023. The five-year rate influences the pricing of mortgages and has been lowered by ten basis points this year. The LPR, which banks usually charge their best customers, is determined by 18 named commercial banks that submit interest rate proposals to the central bank monthly.