China left benchmark lending rates unchanged today, in line with market expectations:
- one-year loan prime rate (LPR) kept at 3.1%
- five-year LPR unchanged at 3.6%
- China widely expected to keep benchmark lending rates unchanged this week ... the Reuters survey of 28 market participants had all respondents expecting 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.
