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.....

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