China sets one-year loan prime rate at 4.20%

The People's Bank of China (PBOC) has set the one-year loan prime rate (LPR) at 4.20% versus an expected figure of 4.15% and down from the previous rate of 4.25%. 

The LPR is set once a month, based on a spread above the Medium-Term Lending Facility (MFL) rate.