The PBoC has left its lending benchmarks LPRs unchanged, as expected

The news is here from earlier:

• China Loan Prime Rates (LPR) 1 year 3.65% (prior 3.65%) & 5 year 4.30% (prior 4.30%)

Reuters have posted a bit of a recap which provides some useful background on the decision, the policy divergence between the pboc and other central banks (those ramping rates much higher) and the impact on the yuan:

• China leaves lending benchmarks unchanged as expected

Offshore yuan update: