China leaves benchmark lending rates unchanged, as expected

SHANGHAI/SINGAPORE -China kept benchmark lending rates unchanged at a monthly fixing on Wednesday, matching market expectations, as fresh signs of economic stabilization and a weakening yuan reduced the need for immediate monetary easing. Recent economic data showed the world's second-largest economy was picking up steam, while yuan declines have reduced the urgency for authorities to aggressively lower interest rates to prop up slowing growth. The one-year loan prime rate (LPR) was kept at 3.45 percent, while the five-year LPR was unchanged at 4.25 percent. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing...Keep on reading: China leaves benchmark lending rates unchanged, as expected

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