China held its benchmark lending rates unchanged for an 11th straight month, keeping its powder dry as policymakers weigh the economic fallout from the Middle East war against resilient growth at home and fading deflationary pressure that has given Beijing less urgency to act. The People’s Bank of China kept the loan prime rate, or LPR, unchanged on Monday, as surging global oil prices amid escalating Middle East tensions pushed up energy prices and clouded the growth outlook. The one-year LPR, a benchmark for new loans, was kept at 3.0% while the five-year LPR, a reference for mortgage rates, was unchanged at 3.5%. ... (full story)