China keeps benchmark loan rate steady for fifth straight month

China kept its benchmark lending rate for corporate and household loans steady for the fifth straight month at its September fixing on Monday, as expected.The one-year loan prime rate (LPR) was kept unchanged at 3.85 per cent, while the five-year LPR remained at 4.65 per cent.Most new and outstanding loans are based on the LPR, while the five-year rate influences the pricing of mortgages.Thirty-one out of 35 traders and analysts, or nearly 90 per cent, in a snap Reuters poll conducted last week…