By Gina Lee

Investing.com – China’s central bank said on Monday that its benchmark lending rate for June would remain unchanged from the previous month, in tune with market expectations.

The People’s Bank of China (PBOC) ’s 1-year loan prime rate held steady at 3.85%, while the 5-year loan prime rate remained at 4.65%, the second month in a row in which the rate remained unchanged.

PBOC also said that it rolled over some maturing medium-term loans during the previous week.

Meanwhile, the country has been struggling to recover from the economic impact of COVID-19, with the latest economic indicators showing that while production increased in May, exports decreased during the same month. Beijing is also has also re-imposed some lockdown measures to curb an outbreak that broke out earlier in month at the XInfadi market.

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