The People's Bank of China (PBOC) announced Monday that it will keep its benchmark interest rate at 3.1% for the fourth consecutive month, in line with analysts' expectations of no change. The one-year prime lending rate (LPR) will remain at this level for at least another month,

China’s commercial lenders held benchmark lending rates unchanged for the third consecutive month after Beijing eased monetary policy in October to boost slowing domestic demand.

The People’s Bank of China ((PBoC)) maintained the 1-year LPR at 3.1% for corporate and most household loans, and the 5-year LPR at 3.6% for mortgages. Both rates are at record lows following rate reductions last year in October and July.

China left key lending rates unchanged on Monday for the third straight month as the country seeks to maintain currency stability amid expectations of further monetary easing to support economic growth.