China's central bank keeps benchmark lending rate unchanged

The People's Bank of China left its benchmark lending rate unchanged this month. The People's Bank of China kept its benchmark lending rate unchanged at 3.65 percent, the 1-year loan prime rate (LPR) and 4.30 percent, the 5-year rate, as expected. The People's Bank of China has kept its interest rate unchanged for 8 months. Noting that the first-quarter economic data masked weaknesses in both household and external demand, Chaoping Zhu, global market strategist at JPMorgan Asset Management, said, "Policymakers can adjust structural measures to correct these weaknesses. They can continue proactive fiscal policy and prudent monetary policy."