CH 5-y Loan Prime Rate

China kept its main benchmark lending rates unchanged on Friday, as Beijing faces the challenge of bolstering economic growth while backstopping a weakening yuan. The People’s Bank of China said it would steady the one-year loan prime rate at 3.1%, with the five-year LPR at 3.6%. The 1-year LPR affects corporate and most household loans, while the 5-year LPR serves as a reference for mortgage rates. The rate decision came on the back of a widely-expected 25-basis-points rate cut by the U.S. Federal Reserve on Wednesday. The Fed also ...

China cut its benchmark lending rates after the central bank lowered interest rates at the end of September as part of a series of measures aimed at reviving economic growth and halting a housing market crash. The one-year loan prime rate was lowered to 3.10% from 3.35%, while the five-year LPR was reduced to 3.60% from 3.85%. The size of the cut is at the upper bound of the 20-25 basis points range forecast by People’s Bank of China Governor Pan Gongsheng in speeches since late September, and bigger than the 20 basis point reduction ...

China on Friday kept its main benchmark lending rates unchanged at the monthly fixing. Market watchers polled by Reuters had expected a trim as the Federal Reserve’s 50 basis point rate cut had given more room for China to lower its domestic borrowing costs without prompting a sharp decline in yuan. The People’s Bank of China (PBOC) said it would keep the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%. The one-year LPR affects corporate and most household loans in China, while the five-year LPR acts as ...

Chinese banks kept their benchmark lending rates unchanged for August, as profit margins come under pressure and policymakers focus on the health of financial institutions. The one-year loan prime rate will stay at 3.35% and the five-year rate, a reference for long-term credit including mortgages, remains at 3.85%, according to a Tuesday statement from the People’s Bank of China. The moves were in line with the forecasts of all economists surveyed by Bloomberg. The decisions reflect a balancing act by China, after PBOC Governor Pan ...

The People’s Bank of China cut a key short-term policy rate for the first time in almost a year, stepping up support for the economy after growth disappointed and steering a shift toward a new policy benchmark. The seven-day reverse repo rate is lowered by 10 basis points to 1.7%, the PBOC said in a statement Monday. This aims to optimize the open market operation mechanism and increase financial support for the economy, it added. Chinese banks followed the move about an hour later by lowering their main benchmark lending rates, or ...

China's one-year loan prime rate (LPR), a market-based benchmark lending rate, was 3.45 percent on Wednesday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also held steady from the previous reading of 3.95 percent, according to the National Interbank Funding Center. Last month, China cut the over-five-year rate by 25 basis points to 3.95 percent, the largest drop in recent years. The one-year rate remained unchanged in February. A lower LPR is expected to shore up the ...