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PBOC surprises market by keeping benchmark rate unchanged, market still expect lower rate ahead


The People's Bank of China surprised the market by keeping the new benchmark rate for banks' lending unchanged in October, defying expectations of a cut, despite the latest data showed the economic growth slowed to its slowest pace in almost three decades.

The one-year loan prime rate (LPR) was set at 4.2 per cent, according to a statement from the People’s Bank of China on Monday, compared to the 4.15 per cent . . .

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