China kept its benchmark lending rates unchanged on Friday, following an increased monetary measures last month to promote development.

People’s Bank of China placed 1 year loan prime rate 3.0% and 5-year-old LPR at 3.5% according to A. statement Friday, to suit the Reuters pole estimates.

Last month, Chinese officials Cut the lending rates for the first time From 10 basis points since October, in their dialect to reduce the impact from business stress with Washington. A group of commercial banks also trimmed their deposit rates to protect their net interest margin.

The LPR, usually charged for the best customers of banks, is calculated based on a survey of dozens of designated commercial banks that present the proposed rates to the central bank.

1-Year LPR affects corporate and most domestic loans in China, while the 5-year LPR acts as a benchmark for mortgage rates.

Nomura has trimmed rate-cut forecasts for the fourth quarter to 10 basis points for the fourth quarter this year, while maintaining estimates for a 50-base-point cut in reserved requirement ratio.

Nomura economist stated that Chinese authorities are likely to use “limited urges” in rolling additional fiscal stimulation in the near period, Beijing may still be forced to ramp policy support in the second half of this year as the impact from the front loading temporary of businesses, said Nomura economist.

Recent comments by Chinese policy makers have suggested “strong degrees of satisfaction” with the current trend and results of China’s monetary policy, said the Associate Professor at Bruce Pang, Cuhk Business School.

Pang said that the authorities are keen to cut interest rate and keep other monetary equipment in more “restrained, auxiliary roles”, while searching for an alternative path to encourage economic growth, Pang said.

State administration head Zu Hexin said at a high-profile financial forum in Shanghai on Wednesday that China’s ability to combat foreign exchange market instability has improved.

PBOC governor Pan Gongsheng has emphasized the ambition of Beijing to expand the international use of digital yuan and called for a multi-polar global currency system.