p-dropdown does not display correct label when ngModel variable is an object

I am using PrimeNG's p-dropdown component. When the page loads initially I am setting the ng-model but the drop down shows first element as the selected element always.

HTML

<p-dropdown [options]="cities" [(ngModel)]="selectedCity" optionLabel="name" [showClear]="true"></p-dropdown>
<p>Selected City: {{selectedCity ? selectedCity.name : 'none'}}</p>


TS

this.cities = [
{label:'New York', value:{id:1, name: 'New York', code: 'NY'}},
{label:'Rome', value:{id:2, name: 'Rome', code: 'RM'}},
{label:'London', value:{id:3, name: 'London', code: 'LDN'}},
{label:'Istanbul', value:{id:4, name: 'Istanbul', code: 'IST'}},
{label:'Paris', value:{id:5, name: 'Paris', code: 'PRS'}}
];


Here New York is shown as the selected one in the dropdown even if I change the ng-model to some other city.

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