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China keeps lending benchmarks unchanged in March, as expected

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China kept its benchmark lending rates unchanged for the seventh straight month in March, as expected, after the central bank surprised markets last week by moving to lower the amount of cash banks must set aside as reserves.
Market watchers widely believe the need for more imminent monetary easing was reduced after the People’s Bank of China (PBOC) said on March 17 it would cut the reserve requirement ratio (RRR).

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