-
PBOC cuts one-year Loan Prime Rates to 3.45% but keeps five-year LPRs unchanged
On Monday, China's central bank, the People’s Bank of China (PBOC), lowered the one-year Loan Prime Rate (LPR) to 3.45% from 3.55% previous as expected. It's worth noting that the PBoC previously cut the Medium-term Lending Facility (MLF), Standing Lending Facility rates (SLFs) and the the Reverse Repo Rates to infuse liquidity into the world's second largest economy. The PBOC announcements were mostly expected after the last week's actions from the Chinese central bank. Market reaction USD/CNH renews intraday high near 7.3160 following the announcements. About PBoC Interest Rate Decision The PBoC Interest Rate ... (full story)