SHANGHAI (Reuters) – China left benchmark lending rates unchanged at the monthly fixing on Wednesday, in line with market expectations, after lenders slashed the rates by bigger-than-expected margins last month to revive economic activity.
The one-year loan prime rate (LPR) was kept at 3.1%, and the five-year LPR was unchanged at 3.6%.
In a Reuters survey of 28 market participants conducted this week, all respondents expected the rates to stay unchanged.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
(Reporting by Shanghai Newsroom; Editing by Tom Hogue)
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