BEIJING -- China's central bank has kept key lending rates unchanged again as its monetary easing options are narrowed by the yuan's recent weakness against the dollar, which has risen on the delayed outlook for U.S. rate cuts.
The one-year loan prime rate -- a benchmark for loans to the most creditworthy corporate borrowers that essentially serves as a policy rate -- was left at 3.45% on Monday as the People's Bank of China (PBOC) stood pat for an eighth straight month. Concern about commercial bank profits may have been a factor, as lower rates eat into lenders' margins.
