China Set to Keep Lending Rates Unchanged
China is widely expected to keep benchmark lending rates steady for a seventeenth straight month. Strong third quarter growth data has lessened the need for near term monetary easing.
China will leave benchmark lending rates unchanged for a 17th consecutive month in October, leaving the one-year and five-year LPRs at 3.00% and 3.50%, respectively. The hold follows third-quarter GDP growth that exceeded forecasts and lessened the need for near-term monetary easing. Investors are tracking the decision to gauge how Beijing balances export-driven growth against ongoing property sector weakness.
