China leaves benchmark lending rates unchanged for fourth month in Sept

China kept benchmark lending rates unchanged for the fourth consecutive month in September, in line with market expectations.

The one-year loan prime rate (LPR) was kept at 3.0% on Monday, 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 20 market participants conducted last week, all participants predicted no change to either of the two rates despite a recent spate of weak economic data.