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China kept its benchmark lending rate for corporate and household loans steady for the fifth straight month at its September fixing on Monday, as expected.
The one-year loan prime rate (LPR) was kept unchanged at 3.85 percent, while the five-year LPR remained at 4.65 percent.
Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing of mortgages.
Thirty-one out of 35 traders and analysts, or nearly 90%, in a snap Reuters poll conducted last week saw no change to either the one-year or the five-year LPR.
The rate decision came after the People’s Bank of China (PBOC) kept the borrowing cost on medium-term lending facility (MLF) loans unchanged for the fifth straight month.
