The People's Bank of China has kept its benchmark loan rate unchanged

The People's Bank of China has kept its benchmark lending rate (LPR) unchanged for nine consecutive months. Market expectations were that it would not change interest at its May meeting. China left the 1-year lending rate unchanged at 3.65 percent and the 5-year lending rate unchanged at 4.30 percent. The Chinese onshore yuan weakened 0.2 percent against the US dollar to 7.0205.