(Photo: Reuters / Jason Lee)China left its benchmark lending rates unchanged for a fourth consecutive month on Monday, choosing policy stability over immediate stimulus even after the U.S. Federal Reserve cut interest rates last week. The People's Bank of China (PBOC) maintained the one-year loan prime rate (LPR) at 3.0% and the five-year LPR at 3.5%, in line with forecasts from a Reuters survey of economists. Chinese authorities have cut rates only once this year - a 10 basis-point reduction in May - after seven months of no changes. Still, economic data in July and August showed weakness, with export growth slowing to 4.4% in August - its lowest since February - as the impact of frontloaded shipments faded and U.S. trade restrictions weighed on third-country exports. and Aug. likely gave policymakers justification to take more steps to stabilize the economy," forecasting another 10 basis-point rate cut before year-end.