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China keeps benchmark lending rates unchanged for 16th month in September
SHANGHAI: China kept its benchmark lending rates unchanged for the 16th straight month on Sunday, in line with market expectations. Why it’s important The steady loan prime rates underscored the limited scope for fresh monetary easing after some major global central banks recently adopted a more hawkish stance, even as the yuan continued to strengthen. By the numbers The one-year LPR was kept at 3.00%, while the five-year LPR was unchanged at 3.50%. Fed chair signals ‘work to do’ on high US inflation All 21 market participants in a Reuters survey forecast no change to either rate. Context...
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