China on Monday unexpectedly kept unchanged its new benchmark lending rate, sugg...
SHANGHAI - China on Monday unexpectedly kept unchanged its new benchmark lending rate, suggesting Beijing is keen to avoid overly loosening monetary policy for fear it may push up already-high debt levels across the economy.
A Reuters poll last week had forecast the rate would be cut again following reductions in August and last month. A separate Reuters poll of 83 analysts showed that the central bank is expected to slash the one-year LPR to 4.00% by the end of 2019, down by 20 basis point from its current level. A bruising 15-month long Sino-U.S. trade dispute was also one of the key factors fueling the easing expectations. U.S. President Donald Trump has outlined the first phase of a deal to end a trade war and suspended a threatened tariff hike, though officials on both sides said much more work needed to be done.
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