China leaves interest rates unchanged as expected

The People’s Bank of China (PBoC) on Monday kept its benchmark interest rates constant, broadly in line with market forecast.

The one-year loan prime rate (LPR) – the medium-term lending facility used for corporate and household loans – remained at a record low of 3.45%.

The five-year LPR, the peg for mortgages, meanwhile, was left at 4.2% for the fifth consecutive month.

The bank maintained its key policy rate called the medium-term lending facility rate (MLF) steady last week.