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China keeps lending benchmark LPR unchanged for 17th straight month By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: The headquarters of a Chinese commercial bank is near the People’s Bank of China’s headquarters in Beijing, November 24, 2014. REUTERS/Kim Kyung-Hoon

SHANGHAI (Reuters) – China stood pat on its benchmark lending rate for corporate and household loans for the 17th straight month at its September fixing on Wednesday, matching market expectations.

The 1.85 percent loan prime rate (LPR), was maintained at 3.85%. The 5-year LPR was maintained at 4.65%.

The snap poll of 19 traders and analysts last week found that 95% of the participants predicted no changes in either tenor.

China’s one-year LPR rate is used for most new and existing loans. Pricing of mortgages is affected by the five-year LPR.

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