{"id":11907,"date":"2023-05-22T02:28:41","date_gmt":"2023-05-22T06:28:41","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/chinas-pboc-keeps-benchmark-loan-rates-unchanged\/"},"modified":"2023-05-22T02:28:42","modified_gmt":"2023-05-22T06:28:42","slug":"chinas-pboc-keeps-benchmark-loan-rates-unchanged","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=11907","title":{"rendered":"China\u2019s PBOC keeps benchmark loan rates unchanged"},"content":{"rendered":"
\n

China\u2019s central bank on Monday kept the benchmark lending rates unchanged, as expected, despite recent data signaling a patchy economic recovery.<\/p>\n

The steady rates were widely expected after the People\u2019s Bank of China kept its key policy rate\u2013the medium-term lending facility interest rate which banks use to price LPR\u2013unchanged last week as China\u2019s banks started to lower deposit rates amid narrowing interest margins.<\/p>\n

\n

The one-year loan prime rate was kept steady at 3.65% while the five-year LPR was unchanged at 4.3%, the PBOC said.<\/p>\n

The loan prime rates are calculated monthly based on the interest rates which 18 designated commercial banks charge their best clients.<\/p>\n

Several analysts expect Beijing to roll out monetary easing in the coming months to support the economy, as the April data for retail sales, factory production and fixed-asset investment were all below expectations.<\/p>\n

\u201cWe now expect 10bp cuts to the MLF rate and LPR in mid-June,\u201d Nomura economists said in a note to clients last week.<\/p>\n

\u201cAs China\u2019s economy moves out of the post-Covid sweet spot, Beijing may have to introduce other supportive measures, including adding transfers to local governments and SOEs via its policy banks,\u201d they said.<\/p>\n

The PBOC said in a report last week that it would work to expand domestic demand while striking a balance between economic growth and prices.<\/p>\n

\u201cFrom a domestic perspective, the \u2018scar effect\u2019 of the pandemic has not yet faded, residents\u2019 income expectations are still recovering, young people are under greater employment pressure, the sustainability of consumption recovery momentum is facing challenges, government investment is still constrained to boost social investment, and global economic growth is slowing,\u201d it said.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China\u2019s central bank on Monday kept the benchmark lending rates unchanged, as expected, despite recent data signaling a patchy economic recovery. The steady rates were widely expected after the People\u2019s Bank of China kept its key policy rate\u2013the medium-term lending facility interest rate which banks use to price LPR\u2013unchanged last week as China\u2019s banks started […]<\/p>\n","protected":false},"author":1,"featured_media":11908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-11907","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nChina\u2019s PBOC keeps benchmark loan rates unchanged | iFintechWorld<\/title>\n<meta name=\"description\" content=\"China\u2019s central bank on Monday kept the benchmark lending rates unchanged, as expected, despite recent data signaling a patchy economic recovery. 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