SHANGHAI (Reuters) – China kept its benchmark interest rate for corporate and household lending unchanged at its monthly setting on Monday, as expected by traders and analysts.
The one-year loan prime rate (LPR) was held at 3.70% while the five-year LPR remained at 4.60%.
Just over half the traders and analysts surveyed in a snap Reuters poll last week expected China to keep both rates unchanged.
Most new and outstanding loans in China are based on the one-year LPR. The five-year rate influences the pricing of mortgages.
(Reporting by Winni Zhou and Andrew Galbraith; Editing by Sam Holmes)
