China leaves benchmark lending rates unchanged for seventh month in a row in December

[SHANGHAI] China left benchmark lending rates unchanged for the seventh consecutive month in December on Monday, matching market expectations.

The one-year loan prime rate (LPR) was kept at 3.00 per cent, while the five-year LPR was unchanged at 3.50 per cent.

In a Reuters survey of 25 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