China left benchmark lending rates unchanged at a monthly fixing on Wednesday, in line with market expectations. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 3.95%.
中国周三将基准贷款利率维持在月度固定水平不变，符合市场预期。一年期贷款最优惠利率（LPR）维持在3.45％，而五年期贷款最优惠利率（LPR）维持在3.95％不变。
China needs to revive a battered property sector. Most new and outstanding loans in China are based on the one-year loan prime rate (LPR), while the five-year rate influences the pricing of mortgages.
中国需要振兴饱受打击的房地产行业。中国的大多数新增和未偿贷款都基于一年期贷款最优惠利率（LPR），而五年期利率则影响抵押贷款的定价。
But any sharp cuts to interest rates may put pressure on the yuan and banks whose net interest margins (NIMs) have been falling since last year.
但是，任何大幅降息都可能给人民币和自去年以来净利率（NIM）一直在下降的银行带来压力。
