SHANGHAI, April 19 Reuters China is widely expected to leave benchmark lending rates unchanged on Monday, a Reuters survey showed, as encouraging first quarter economic data reduces the urgency for further monetary stimulus to aid a fragile recovery.

A weakening yuan also continues to restrict the headroom available for Beijing to easy policy.

The loan prime rate LPR normally charged to banks39; best clients is calculated each month after 20 designated commercial banks submit proposed rates to the People39;s Bank of China PBOC.

In a survey of 30 market watchers conducted this week, all respondents expected both the oneyear and the fiveyear LPRs would stay unchanged.

Most new and outstanding loans in the world39;s secondlargest economy are based on the oneyear LPR, which stands at 3.45.

The fiveyear LPR, which serves as the mortgage reference rate, is currently at 3.95 after a 25basispoint reduction in February to support the housing market.

The strong consensus for steady LPR fixings comes after China39;s economy grew faster than expected in the first quarter, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt.

Currently, with the strongerthanexpected Q1 growth, we think the authorities may be reluctant to roll out any additional supportive macro policies, said Wang Tao, chief China economist at UBS.

Wang said she no longer expects a reduction to the…