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China leaves benchmark lending rates unchanged
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China left benchmark lending rates unchanged at the monthly fixing on Monday, as a weakening yuan has limited Beijing's monetary easing efforts.
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The one-year loan prime rate (LPR) was kept at 3.1%, while the five-year LPR was unchanged at 3.6%.
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 October 2024, Chinese lenders slashed lending benchmarks by bigger-than-expected margins to revive economic activity.
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