China has left benchmark lending rates, according to Reuters

SHANGHAI (Reuters) – China left benchmark lending rates unchanged at its monthly decision on Monday, as a weak yuan curbed Beijing’s monetary easing efforts.

The one-year loan prime rate (LPR) remained unchanged at 3.1%, while the five-year LPR was unchanged at 3.6%.

Most new and outstanding loans in China are based on one-year LPR, while the five-year rate affects the value of mortgages.

In October 2024, China’s lenders cut lending rates more than expected to stimulate economic activity.