China left its benchmark lending rates unchanged on Wednesday, confounding expectations for a reduction, as the People's Bank of China opted for a more cautious stance to further easing.
The one-year loan prime rate, or LPR, was retained at 3.70 percent and the five-year LPR, the benchmark for mortgage rates, was maintained at 4.60 percent.
Although the one-year medium-term lending facility, the forerunner of LPR, was kept unchanged last week, economists expected a slight reduction in the LPR today.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.