China unexpectedly keeps lending benchmark unchanged but future easing likely
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SHANGHAI (Reuters) - China kept a benchmark lending rate unchanged on Friday, defying expectations for a reduction with the economy jolted by the coronavirus pandemic although policymakers will likely need to loosen lending rates soon to free up funds.The one-year loan prime rate (LPR) was left unchanged at 4.05% from the previous monthly fixing while the five-year LPR remained at 4.75%.The surprise helped prop up the yuan against the dollar, following heavy selling this week, as the interest..