China kept benchmark lending rates unchanged for a 14th consecutive month on Monday (Jul 20), in line with market expectations. The unchanged loan prime rates (LPRs) suggest that policymakers remain patient, keeping interest rates on hold despite softer-than-expected second-quarter economic data that underscored the uneven growth in the world’s second-largest economy. The one-year LPR was kept at 3 per cent, while the five-year LPR was unchanged at 3.5 per cent. In a Reuters survey of 23 market participants conducted last week, all participants predicted no change to either of the two rates. China’s economy expanded ... (full story)