SHANGHAI (Reuters) – China left its benchmark lending rate unchanged in its monthly adjustment on Wednesday, in line with market expectations, after lenders cut rates by a larger-than-expected amount last month to boost economic activity.
The one-year loan rate (LPR) was kept at 3.1%, while the five-year LPR was unchanged at 3.6%.
In a Reuters survey of 28 market participants conducted this week, all respondents expected rates to remain unchanged.
Most new and existing loans in China are based on the one-year LPR, while the five-year rate influences the price of mortgages.
