The People’s Bank of China (PBoC) left its benchmark interest rates steady for the fifth straight month at its September fixing, after the central bank maintained borrowing costs on medium-term loans last week, as policymakers face a challenge in sustaining stable expansion over the next few years. Recent economic data showed the economy has steadily recovered from the COVID-19 shocks. The one-year loan prime rate (LPR) was left unchanged at 3.85 percent while the five-year remained at 4.65 percent.
