China leaves benchmark lending rates unchanged, as expected

China left benchmark lending rates unchanged for an eighth consecutive month in January on Tuesday, matching market expectations.

The one-year loan prime rate (LPR) was kept at 3.0 percent, while the five-year LPR was unchanged at 3.5 percent.

In a Reuters survey of 22 market participants conducted last week, all participants predicted no change to either of the two rates.

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