China leaves benchmark lending rates unchanged
China left benchmark lending rates unchanged at a monthly fixing on Wednesday, in line with market expectations, after the central bank kept a key policy rate steady last week amid some signs of improvement in the broad economy. The one-year loan prime rate (LPR) was kept at 3.45 percent, while the five-year LPR was unchanged at 3.95 percent. In a Reuters poll of 27 market watchers conducted this week, all respondents expected both rates would 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. (Reuters)