Chinese Banks Hold Lending Rates Despite PBOC Calls for Easing

(Bloomberg) — Chinese banks maintained their lending rates for a third month even though the central bank boosted liquidity and called for lower borrowing costs to help the economy. The one-year loan prime rate was held steady at 3.7%, the People's Bank of China said Wednesday. A slight majority of 9 of the 16 economists surveyed by Bloomberg had expected a cut. The five-year rate, a reference for long-term loans including mortgages, was also unchanged at 4.6%. Loan prime rates are China's de facto benchmark lending rates, based on the quotes that 18 banks offer their best customers and submit…