SHANGHAI (Reuters) -China left benchmark lending rates unchanged for the fifth consecutive month in October on Monday, meeting market expectations despite signs of slowing economic momentum.

WHY IT’S IMPORTANT

The decision to hold steady on Loan Prime Rate (LPR) fixings highlights policymakers’ caution in introducing fresh monetary stimulus ahead of a key policy meeting this week. The move comes amid trade tensions between Beijing and Washington.

BY THE NUMBERS

The one-year loan prime rate was kept at 3.0%, while the five-year LPR was unchanged at 3.5%.

Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.

In a Reuters survey of 27 market participants conducted last week, all participants predicted no chan

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