SHANGHAI China kept its benchmark lending rates unchanged at the monthly fixing on Friday, matching market expectations, as a set of economic data suggested the economy is stabilising and a weaker yuan constrained further monetary easing.
The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%.
In a Reuters survey of 29 market analysts and traders, almost all participants predicted no change to the one-year LPR, while all had expected the five-year rate to remain steady.
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 cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.
(Reporting by Shanghai Newsroom; Editing by Edmund Klamann)
