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PBOC Loan Prime Rates (LPR) remain unchanged at today's rate setting, as expected
People's Bank of China policy rate setting, no change. As expected. LPRs left at: • 3.45% for the one year. • 4.20% for the five year. The 1 year rate was cut in August: PBOC Loan Prime Rates (LPR) CUT: 1-year 3.45% (prior 3.55%) & 5-year 4.2% (prior 4.20%). • The 1-year and the 5-year were both left unchanged in September. --- The PBOC's Loan Prime Rate (LPR): • Its an interest rate benchmark used in China, set by the People's Bank of China each month. • The LPR serves as a reference rate for banks when they determine the interest rates for (primarily new) loans issued to their customers. • Most new and ... (full story)
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China leaves benchmark lending rate unchanged amid better economic data
China kept its benchmark lending rates unchanged at the monthly fixing on Friday, matching market expectations, as a set of economic data suggested the economy is stabilising and a weaker yuan constrained further monetary easing. The one-year loan prime rate (LPR) was kept at 3.45 per cent, while the five-year LPR was unchanged at 4.20 per cent. In a Reuters survey of 29 market analysts and traders, almost all participants predicted no change to the one-year LPR, while all had expected the five-year rate to remain steady. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate ... (full story)