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China kept benchmark lending rate unchanged for 11th consecutive month, PBOC governor Yi Gang said rate level moderate

The People's Bank of China (PBOC) kept its benchmark lending rate unchanged for the 11th consecutive month, in a further sign policymakers are proceeding cautiously to maintain sufficient support for the economy while gradually reducing stimulus to reduce debt levels and financial risks.

The central bank maintained the one-year Loan Prime Rate (LPR) at 3.85 per cent, while the five-year LPR remained at 4.65 per cent.

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