[Shanghai 21st Reuters]-China unexpectedly left a new benchmark interest rate for bank lending on the 21st. This is the first deferral since the introduction in August. Authorities may be trying to avoid excessive monetary easing due to concerns over further debt growth.
1-year <CNYLPR1Y = CFXS> 1-year loan prime rate (LPR), the most preferential lending rate of banks, is 4.20%, and 5-85-year <CNYLPR5Y = CFXS> is 4.85% from the September level. Deferred.
In the previous week's Reuters survey, it was expected to be lowered following August and September.
LPR is linked to the interest rate of the Chinese People's Bank (Central Bank) Medium Term Loan Facility (MLF). The annual MLF is currently 3.3%.