China leaves lending benchmarks unchanged as expected

China leaves lending benchmarks unchanged as expected

SHANGHAI : China kept its benchmark lending rates unchanged at a monthly fixing on Tuesday, matching market expectations.

The one-year loan prime rate (LPR) was kept at 3.65 per cent, while the five-year LPR was unchanged at 4.30 per cent.

In a Reuters poll conducted this week, 21 out of 28 respondents, or 75 per cent of all participants, predicted no change to either rate.

Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.

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