SHANGHAI, April 20 (Reuters) - China on Monday left benchmark loan prime rates (LPRs) unchanged for the 11th consecutive month in April, in line with market expectations.

WHY IT'S IMPORTANT

Solid economic growth at the start of the year and a pick-up in inflation reduced the need for fresh monetary easing to support the broader economy.

BY THE NUMBERS

It kept the one-year LPR at 3.00% and five-year LPR at 3.50%.

In a Reuters survey of 20 market participants conducted last week, all participants predicted no change to either of the two rates.

CONTEXT

** The Chinese economy's 5.0% annual growth pace in the first quarter sits at the top of its full-year target range of 4.5%-5.0%, highlighting a resilience that sets it apart from much of Asia, helped by ample strategic oil reserves and a diversified energy mix.

** China's factory-gate prices rose for the first time in more than three years in March, in an early sign that the war in Iran is feeding cost pressures into the world's second-largest economy.

KEY QUOTES

** DBS

"With no clear signs of a sharp slowdown and credit demand yet to recover meaningfully, policymakers are likely to stay with targeted easing rather than shift toward broad-based rate cuts."

** Societe Generale

"Despite the strong first-quarter GDP, policymakers are likely to refrain from further easing at the late-April Politburo meeting, even amid the Middle East conflict.

"Under a contained conflict scenario lasting only a few months, we do not expect additional fiscal stimulus this year and see scope for just one People's Bank of China (PBOC) rate cut toward year-end."