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China unexpectedly keeps reference lending rates unchanged in March

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

China kept its reference lending rate unchanged on Friday, defying expectations for an interest rate cut to lower borrowing costs for the economy disrupted by the coronavirus pandemic.

The one-year loan prime rate (LPR) was left unchanged at 4.05 per cent from the previous monthly fixing while the five-year LPR remained at 4.75 per cent.

On Monday, the central bank injected 100 billion yuan liquidity via one-year Medium-Term Lending . . .

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