FOREX TradingCharts.com

Financial News: China Retains Benchmark Lending Rates

China Retains Benchmark Lending Rates

01/20/2021 - 00:30:00 (RTTNews)

(RTTNews) - China's benchmark lending rates were left unchanged as widely expected, on Wednesday. The one-year loan prime rate was retained at 3.85 percent and the five-year loan prime rate was maintained at 4.65 percent.

The one-year and five-year loan prime rates were last lowered in April 2020. The one-year loan prime rate was cut by 20 basis points and five-year rate by 10 basis points in April.

Markets have expected the rates to remain on hold today as the People's Bank of China had kept the rate on its medium-term lending facility unchanged early this month.

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

The PBoC is shifting its focus away from supporting growth back towards containing financial risks, Julian Evans-Pritchard and Sheana Yue, economists at Capital Economics, said.

With monetary conditions already being tightened in practice and underlying inflation set to rebound, it is still likely that the PBoC will opt to formally hike rates later this year, they added.

Elsewhere, the Ministry of Commerce reportedly said that foreign direct investment into China grew 4.5 percent in 2020.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


China Services Sector Slows In February - Caixin (05 min(s), 27 sec(s) ago)
(RTTNews) - The services sector in China continued to expand in February, albeit at a slower pace, ...Full Story»

Australia GDP Expands 3.1% On Quarter In Q4 (45 min(s), 27 sec(s) ago)
(RTTNews) - Australia's gross domestic product gained a seasonally adjusted 3.1 percent on qua ...Full Story»

Japan Services PMI Improves To 46.3 In February - Jibun (20 min(s), 27 sec(s) ago)
(RTTNews) - The services sector in Japan continued to contract in February, albeit at a slower pac ...Full Story»

Hong Kong Private Sector Climbs Into Expansion - Markit (05 min(s), 27 sec(s) ago)
(RTTNews) - The private sector in Hong Kong moved into expansion territory in February, the latest ...Full Story»

Singapore Private Sector Accelerates In February - Markit (57 min(s), 27 sec(s) ago)
(RTTNews) - The private sector in Singapore continued to expand in February, and at a faster pace, ...Full Story»

Australia GDP Climbs 3.1% On Quarter In Q4 (53 min(s), 27 sec(s) ago)
(RTTNews) - Australia's gross domestic product expanded a seasonally adjusted 3.1 percent on q ...Full Story»

Australia Construction Index Eases To 57.4 In February - AiG (30 min(s), 27 sec(s) ago)
(RTTNews) - The construction sector in Australia continued to expand in February, albeit at a slig ...Full Story»

Australia Services Sector Slows In February (30 min(s), 27 sec(s) ago)
(RTTNews) - The services sector in Australia continued to expand in February, albeit at a slightly ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

China Services Sector Slows In February - Caixin

03/02/2021 - 20:50 PM (RTTNews)
(RTTNews) - The services sector in China continued to expand in February, albeit at a slower pace, ...Full Story>>

Australia GDP Expands 3.1% On Quarter In Q4

03/02/2021 - 20:30 PM (RTTNews)
(RTTNews) - Australia's gross domestic product gained a seasonally adjusted 3.1 percent on qua ...Full Story>>

Japan Services PMI Improves To 46.3 In February - Jibun

03/02/2021 - 20:05 PM (RTTNews)
(RTTNews) - The services sector in Japan continued to contract in February, albeit at a slower pac ...Full Story>>

Hong Kong Private Sector Climbs Into Expansion - Markit

03/02/2021 - 19:50 PM (RTTNews)
(RTTNews) - The private sector in Hong Kong moved into expansion territory in February, the latest ...Full Story>>

Singapore Private Sector Accelerates In February - Markit

03/02/2021 - 19:42 PM (RTTNews)
(RTTNews) - The private sector in Singapore continued to expand in February, and at a faster pace, ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.