FOREX TradingCharts.com

Financial News: China Keeps Key Lending Rates Unchanged

China Keeps Key Lending Rates Unchanged

03/20/2024 - 04:32:00 (RTTNews)

(RTTNews) - China's central bank left its loan prime rates unchanged on Wednesday, as widely expected, as authorities monitor developments in the housing market and credit growth.

The People's Bank of China kept the five-year loan prime rate at 3.95 percent after lowering it by 5 basis points in February. The one-year LPR was retained at 3.45 percent.

The 5-year LPR was reduced in February to support the ailing housing market. The PBoC fixes the LPR monthly based on the submission of 18 designated banks. However, Beijing has influence over the fixing.

The LPR replaced the traditional benchmark lending rate in August 2019.

The status quo decision was widely expected as the medium-term lending facility, which is considered as a guide to loan prime rate, was left unchanged last week.

Data released this week showed an improvement in industrial production but retail sales posted a slower growth in January to February period.

The Chinese government aims to achieve growth target of around 5 percent in 2024. However, stimulus measures are likely to be needed to reach its goal.

The bank had lowered the reserve requirement ratio by 50 basis points with effect from February.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia PMI Data Due On Monday (04 hr(s), 57 min(s), 15 sec(s) ago)
(RTTNews) - Australia will on Monday see preliminary April results for its manufacturing and servi ...Full Story»

Malaysian Economic Growth Fastest In A Year (15 hr(s), 0 min(s),15 sec(s) ago)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story»

Greece Current Account Deficit Widens (15 hr(s), 43 min(s), 15 sec(s) ago)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story»

Spain Trade Gap Narrows Slightly (16 hr(s), 35 min(s), 15 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story»

UK Retail Sales Stable In March (18 hr(s), 08 min(s), 15 sec(s) ago)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story»

Italy Construction Output Falls 3.9% (18 hr(s), 22 min(s), 15 sec(s) ago)
(RTTNews) - Italy's construction output decreased for the first time in five months in Februar ...Full Story»

German Producer Prices Fall At Slower Pace In March (20 hr(s), 23 min(s), 15 sec(s) ago)
(RTTNews) - Germany's producer prices continued to decline in March, though at the slowest pac ...Full Story»

Japan Inflation Data Due On Friday (04 hr(s), 57 min(s), 15 sec(s) ago)
(RTTNews) - Japan will on Friday release March national figures for consumer prices, highlighting ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia PMI Data Due On Monday

04/21/2024 - 18:03 PM (RTTNews)
(RTTNews) - Australia will on Monday see preliminary April results for its manufacturing and servi ...Full Story>>

Malaysian Economic Growth Fastest In A Year

04/19/2024 - 08:00 AM (RTTNews)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story>>

Greece Current Account Deficit Widens

04/19/2024 - 07:17 AM (RTTNews)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story>>

Spain Trade Gap Narrows Slightly

04/19/2024 - 06:25 AM (RTTNews)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story>>

UK Retail Sales Stable In March

04/19/2024 - 04:52 AM (RTTNews)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.