China kept its benchmark lending rates unchanged for a ninth straight month in February, signaling a cautious monetary policy stance amid mixed economic signals. The one-year loan prime rate remained at 3.00%, while the five-year rate, a key reference for mortgages, stayed at 3.50%, according to the People's Bank of China.

This decision aligns with market expectations as the world's second-largest economy grapples with uneven recovery momentum and subdued credit demand. Recent data have pointed to soft inflationary pressures and patchy domestic demand, even as exports have shown resilience amid global trade uncertainties. The central bank has preferred targeted liquidity tools over benchmark rate cuts to avoid narrowing bank margins and pressuring the yuan.

Analysts note that policymakers have shifted focus to structural support after trimming key policy rates and banks' reserve requirement ratios last year. The property sector continues to strain the broader economy, while policymakers weigh the need for growth stimulus against currency stability concerns.