China unexpectedly leaves lending rates steady; markets expect cuts soon

China has kept its benchmark lending rates unchanged, surprising markets that expected a cut following the U.S. Federal Reserve’s rate reduction. Analysts believe further stimulus measures are likely to support China’s struggling economy. Recent weak economic data and President Xi Jinping’s call for achieving development goals add urgency to potential policy actions. China has kept its benchmark lending rates unchanged, surprising markets that expected a cut following the U.S. Federal Reserve’s rate reduction. Analysts believe further stimulus measures are likely to support China’s struggling economy. Recent weak economic data and President Xi Jinping’s call for achieving development goals add urgency to potential policy actions.  Economic Times