FOREX TradingCharts.com

Financial News: China Keeps Lending Rates Unchanged As Expected

China Keeps Lending Rates Unchanged As Expected

05/20/2024 - 04:26:00 (RTTNews)

(RTTNews) - China central bank retained its benchmark lending rates as expected on Monday after the government rolled out measures to support the property market. The People's Bank of China left the one-year loan prime rate unchanged at 3.45 percent.

Likewise, the five-year LPR, the benchmark for mortgage rates, was maintained at 3.95 percent. The five-year LPR was last lowered by 5 basis points in February to support the property 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 interest rate decision came in line with expectations as the <a href=https://www.rttnews.com/3447929/china-keeps-lending-rate-unchanged-as-expected.aspx target=_blank >medium-term lending facility</a>, which acts as a guide to loan prime rates, was left unchanged last week. The bank had conducted the CNY 125 billion of one-year MLF facility at an interest rate of 2.5 percent.

Last week, China also started a CNY 1 trillion special long term government bonds issuance that is intended to fund strategic projects.

Official data showed that China's <a href=https://www.rttnews.com/3448659/china-industrial-output-gains-strength-retail-sales-investment-data-disappoints.aspx target=_blank >industrial output</a> growth accelerated to 6.7 percent in April driven by robust exports. However, growth in retail sales softened to 2.3 percent reflecting an uneven economic recovery necessitating more efforts from the part of the government to achieve the official growth target.

The recent projections from the <a href=https://www.rttnews.com/3444433/oecd-raises-global-growth-forecasts.aspx target=_blank >Organization for Economic and Co-operation and Development</a> revealed that Beijing is likely to miss the official target of about 5 percent growth this year. The second-largest economy is forecast to grow 4.9 percent this year and 4.5 percent in 2025.

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


German Private Sector Expands Modestly In June (09 hr(s), 27 min(s), 39 sec(s) ago)
(RTTNews) - Germany's private sector expanded for the third straight month in June, though the ...Full Story»

U.S. Leading Economic Index Falls More Than Expected In May (10 hr(s), 07 min(s), 39 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Friday showed its reading on leading U.S. ...Full Story»

U.S. Existing Home Sales Decrease Roughly In Line With Estimates In May (10 hr(s), 10 min(s), 39 sec(s) ago)
(RTTNews) - The National Association of Realtors released a report on Friday showing existing home ...Full Story»

UK Private Sector Grows At Slowest Pace In 7 Months (11 hr(s), 17 min(s), 39 sec(s) ago)
(RTTNews) - The UK private sector growth weakened to a seven-month low in June as the slowdown in ...Full Story»

UK Public Debt Highest Since 1960s; Budget Deficit Remains Below Estimate (11 hr(s), 58 min(s), 39 sec(s) ago)
(RTTNews) - The UK public sector net debt rose to its highest level since early 1960s, while publi ...Full Story»

German Private Sector Expands Modestly In June (12 hr(s), 52 min(s), 39 sec(s) ago)
(RTTNews) - Germany's private sector expanded for the third straight month in June, though the ...Full Story»

German Residential Property Prices Fall For 6th Quarter (13 hr(s), 08 min(s), 39 sec(s) ago)
(RTTNews) - House prices in Germany declined for a sixth consecutive quarter in the first three mo ...Full Story»

Ireland Wholesale Price Inflation Eases To 0.9% (13 hr(s), 33 min(s), 39 sec(s) ago)
(RTTNews) - Ireland's wholesale price inflation moderated in May to the lowest level in seven ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

German Private Sector Expands Modestly In June

06/21/2024 - 11:27 AM (RTTNews)
(RTTNews) - Germany's private sector expanded for the third straight month in June, though the ...Full Story>>

U.S. Leading Economic Index Falls More Than Expected In May

06/21/2024 - 10:47 AM (RTTNews)
(RTTNews) - A report released by the Conference Board on Friday showed its reading on leading U.S. ...Full Story>>

U.S. Existing Home Sales Decrease Roughly In Line With Estimates In May

06/21/2024 - 10:44 AM (RTTNews)
(RTTNews) - The National Association of Realtors released a report on Friday showing existing home ...Full Story>>

UK Private Sector Grows At Slowest Pace In 7 Months

06/21/2024 - 09:37 AM (RTTNews)
(RTTNews) - The UK private sector growth weakened to a seven-month low in June as the slowdown in ...Full Story>>

UK Public Debt Highest Since 1960s; Budget Deficit Remains Below Estimate

06/21/2024 - 08:56 AM (RTTNews)
(RTTNews) - The UK public sector net debt rose to its highest level since early 1960s, while publi ...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.