SHANGHAI (Reuters) – China kept its benchmark lending rates unchanged for the fourth consecutive month at its monthly fixing on Tuesday, matching market expectations.
The one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%.
In a poll of 27 market watchers, 17 or 63% of participants predicted no change to either rate, but expectations for monetary easing are rising.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. China last cut both in August to boost the economy.
(Reporting by Winni Zhou and Brenda Goh; Editing by Himani Sarkar)
