China Leaves Benchmark Lending Rates Unchanged for 5th Straight Month in October

Reuters

10/20

SHANGHAI, Oct 20 (Reuters) - China left benchmark lending rates unchanged for the fifth consecutive month in October on Monday, matching market expectations.

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

Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.

In a Reuters survey of 27 market participants conducted last week, all participants predicted no change to either of the two rates.

China is due to release third-quarter gross domestic product (GDP) and other activity indicators at 0200 GMT.

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