China unexpectedly keeps benchmark lending rate unchanged in October

Topics China | Chinese economy


China on Monday unexpectedly kept unchanged its new benchmark lending rate, suggesting Beijing is keen to avoid overly loosening monetary policy for fear it may push up already-high debt levels across the economy. The one-year Loan Prime Rate (LPR) remained at 4.20 per cent, steady from the previous monthly fixing.

The five-year LPR was fixed at 4.85 per cent, unchanged from September. A Reuters poll last week had forecast the rate would be cut again following reductions in August and last month. Frances Cheung, head of Asia macro.....

This article is no longer available in our repository.

There could be multiple reasons for this.