FOREX TradingCharts.com

Financial News: China Leaves Lending Rates Unchanged

China Leaves Lending Rates Unchanged

07/20/2022 - 05:31:00 (RTTNews)

(RTTNews) - China's central bank held its benchmark lending rates steady, as widely expected, on Wednesday despite the tightening stance adopted by its global peers.

The People's Bank of China kept the five-year loan prime rate, or LPR, the benchmark for mortgage rates, unchanged at 4.45 percent.

The rate was lowered by a record 15 basis points in May and by five basis points in January.

The one-year LPR was also left unchanged at 3.70 percent. The previous change in the rate was a five basis point cut in January.

The LPR is fixed monthly based on the submission of 18 banks, though Beijing has influence over the rate-setting. This lending rate replaced the central bank's traditional benchmark lending rate in August 2019.

Last week, the PBoC had retained the one-year medium-term lending facility rate at 2.85 percent and the seven-day reverse repurchase agreement rate at 2.1 percent. The central bank had injected liquidity of CNY 100 billion via one-year MLF and CNY 3 billion through seven-day reverse repo operations.

Official data showed that the economy grew only 0.4 percent in the second quarter, casting doubt over Beijing's ability to achieve its full year growth target of around 5.5 percent. Nonetheless, economic activity started to improve in June after the easing of the pandemic related restrictions.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


European Economics Preview: UK Labor Market Data Due (02 hr(s), 28 min(s), 29 sec(s) ago)
(RTTNews) - Labor market statistics from the UK and economic confidence from Germany are the major ...Full Story»

RBA Sees More Hikes In Process Of Normalizing Monetary Policy: Minutes (02 hr(s), 37 min(s), 29 sec(s) ago)
(RTTNews) - Policymakers of the Reserve Bank of Australia said more interest rate hikes will be ne ...Full Story»

RBA Minutes On Tap For Tuesday (51 min(s), 31 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its monetary po ...Full Story»

Swiss Producer And Import Price Inflation Slows In July (21 min(s), 31 sec(s) ago)
(RTTNews) - Switzerland's producer and import prices increased at a softer pace in July, data ...Full Story»

U.S. Housing Market Index Unexpectedly Drops To Two-Year Low In August (34 min(s), 31 sec(s) ago)
(RTTNews) - A report released by the National Association of Home Builders on Monday unexpectedly ...Full Story»

New York Manufacturing Index Unexpectedly Indicates Contraction In August (50 min(s), 31 sec(s) ago)
(RTTNews) - New York manufacturing activity has unexpectedly seen a substantial contraction in the ...Full Story»

Slovakia Inflation Rises Slightly In July (48 min(s), 31 sec(s) ago)
(RTTNews) - Slovakia's consumer price inflation accelerated marginally in July, but remained a ...Full Story»

New York Manufacturing Index Unexpectedly Turns Negative In August (32 min(s), 31 sec(s) ago)
(RTTNews) - New York manufacturing activity has unexpectedly seen a substantial contraction in the ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

European Economics Preview: UK Labor Market Data Due

08/16/2022 - 01:40 AM (RTTNews)
(RTTNews) - Labor market statistics from the UK and economic confidence from Germany are the major ...Full Story>>

RBA Sees More Hikes In Process Of Normalizing Monetary Policy: Minutes

08/16/2022 - 01:31 AM (RTTNews)
(RTTNews) - Policymakers of the Reserve Bank of Australia said more interest rate hikes will be ne ...Full Story>>

RBA Minutes On Tap For Tuesday

08/15/2022 - 18:00 PM (RTTNews)
(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its monetary po ...Full Story>>

Swiss Producer And Import Price Inflation Slows In July

08/15/2022 - 12:30 PM (RTTNews)
(RTTNews) - Switzerland's producer and import prices increased at a softer pace in July, data ...Full Story>>

U.S. Housing Market Index Unexpectedly Drops To Two-Year Low In August

08/15/2022 - 10:43 AM (RTTNews)
(RTTNews) - A report released by the National Association of Home Builders on Monday unexpectedly ...Full Story>>

Do not sell my personal information

Copyright © 2022. 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.