SHANGHAI (Reuters) - China is widely expected to leave lending benchmark rates unchanged at a monthly fixing on Wednesday, a Reuters survey showed, as ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSHANGHAI - China is widely expected to leave lending benchmark rates unchanged at a monthly fixing on Wednesday, a Reuters survey showed, as fresh signs of economic stabilisation and a weakening yuan constrained further monetary easing efforts.
For the five-year tenor, 26, or about 90% of all respondents, expected it to remain unchanged at 4.20%, while the other three participants forecast a marginal reduction of 5 to 10 basis points. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged amid broader concerns about a rapidly weakening currency.
"While the August data helped to boost yuan sentiment, we think a turnaround will still depend on more data supporting a stronger economic recovery and improving yield differentials."
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