China leaves benchmark lending LPRs unchanged, in line with expectations

SHANGHAI/SINGAPORE (Reuters) – China left benchmark lending rates unchanged at a monthly fixing on Monday, in line with market expectations.

The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 3.95%.

In a Reuters survey of 30 market participants conducted last week, all respondents expected both 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 Winni Zhou and Tom Westbrook; Editing by Sam Holmes)