SHANGHAI, (Reuters) – China maintained its benchmark lending rate for household and corporate loans at their June fixation on Monday. This was in line with market expectations.

The LPR for a one-year loan was maintained at 3.7%, while the LPR for a five-year loan was at 4.45%.

According to Reuters, 90% of the traders and analysts polled expected China to keep its rates stable. The global central banks tightening policy limits China’s ability to halt an economic slowdown.

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