PBOC unexpectedly kept benchmark lending rates LPR unchanged for third consecutive month

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China’s central bank maintained the benchmark lending rate unchanged for the third consecutive month in April, indicating the authority's increasing cautions as rate hikes in major economies and a weaker yuan shrinking the scope for further monetary easing.

The one-year loan prime rate (LPR), which is calculated on quotes from more than a dozen state-owned and foreign funded banks, was left unchanged at 3.7%, while the five-year LPR, which . . .

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