China leaves key lending benchmarks unchanged, as expected
SHANGHAI/SINGAPORE, Aug 20 (Reuters) -China left benchmark lending rates unchanged at a monthly fixing on Tuesday, in line with market expectations.
The one-year loan prime rate (LPR) CNYLPR1Y=CFXS was kept at 3.35%, while the five-year LPR CNYLPR5Y=CFXS was unchanged at 3.85%.
In a Reuters survey of 37 market participants conducted this week, all respondents expected both rates to stay unchanged.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
China surprised markets by cutting major short- and long-term interest rates in July, its first such broad move in almost a year, signalling policymakers' intent to strengthen economic growth.
Reporting by Winni Zhou in Shanghai and Tom Westbrook in Singapore; Editing by Jacqueline Wong
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