China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations.

The one-year loan prime rate (LPR) was kept at 3.85%. The five-year LPR remained at 4.65%.

Twenty-seven traders and analysts of 30 participants in a Reuters poll this week predicted no change in either rate.

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

– Reuters