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China keeps lending benchmark LPR unchanged for 17th straight month

China stood pat on its benchmark lending rate for corporate and household loans for the 17th straight month at its September fixing on Wednesday, matching market expectations.

The one-year loan prime rate (LPR) was kept at 3.85%. The five-year LPR remained at 4.65%.

Nineteen traders and analysts, or 95% of 20 participants, in the snap poll conducted last week had predicted no change in either tenor.

Most new and outstanding loans in China are based on the one-year LPR. The five-year rate influences the pricing of mortgages.
Source: Reuters (Reporting by Winni Zhou and Andrew Galbraith; Editing by Sam Holmes)

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