Against market expectation, bank deposit and lending rates remained unchanged.

与市场预期相反，银行存款和贷款利率保持不变。

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On March 18th, it raised its benchmark deposit and lending rates by precisely 0.27 percentage points, to 2.79% and 6.39% respectively.

3月18日，中国人民银行将其存款基准利率和借贷利率同时提高了0.27个百分点，分别至2.79%和6.39%。

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The statement came immediately after the central bank had raised the benchmark one-year deposit and lending rates at commercial banks.

在央行宣布提高存款类金融机构一年期存贷款利率后，住建部立即宣布了这一通知。

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The big four state banks are insolvent, and the government wants to nurse them to recovery with the help of a big spread between deposit and lending rates a trick used by both America and Japan when their banking systems got into a pickle.

ECONOMIST: Let it slide

Ye Linfeng, a researcher with Cnbenefit, said that China's smaller banks, which typically started issuing wealth-management products later than the major banks, are trying to bolster their fee income out of concern that the central bank's efforts to liberalize interest rates will increasingly eat into the fixed margin between deposit and lending rates they have traditionally relied on to turn a profit.

WSJ: China Tightens Regulations on Wealth Management

If banks were to compete by offering higher deposit and lower lending rates, they would reduce their income and therefore face liquidity risks.

FORBES: Why China Wants to Break Up Its State Bank Monopoly