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The People's Bank of China (PBOC), the nation's central bank maintained the benchmark one-year loan rate (LPR) at 3.45% annually, the lowest level in recorded history.
Five-year loan rates were reduced from 4.2% to 3.95%. The rate was lowered for the first time since June 2023, and it is now at its lowest point ever.
Analysts surveyed by Trading Economics expected that the one-year rate would drop to 3.3%, while the five-year rate was expected to drop to 4.05%.
The medium-term lending program (MLF) loan rate remains at 2.5% annually, as the PBOC did not alter it last weekend. MLF has a direct impact on the Chinese Central Bank's primary LPR rate and is a crucial lending instrument used to supply liquidity to commercial banks.
source: tradingeconomics.com
Five-year loan rates were reduced from 4.2% to 3.95%. The rate was lowered for the first time since June 2023, and it is now at its lowest point ever.
Analysts surveyed by Trading Economics expected that the one-year rate would drop to 3.3%, while the five-year rate was expected to drop to 4.05%.
The medium-term lending program (MLF) loan rate remains at 2.5% annually, as the PBOC did not alter it last weekend. MLF has a direct impact on the Chinese Central Bank's primary LPR rate and is a crucial lending instrument used to supply liquidity to commercial banks.
source: tradingeconomics.com