Economic Buzz: China's central bank keeps loan prime rate unchanged

China?s central bank kept its loan prime rates unchanged on Tuesday as the authorities focus on targeted support for specific sectors to bolster a slowing economy instead of broad policy easing.

The People?s Bank of China held its 1-year and 5-year loan prime rates at 3% and 3.5%, respectively, keeping them unchanged for an eighth straight month.

The 1-year rate influences most new and outstanding loans, while the 5-year benchmark affects mortgages.

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