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China cuts benchmark loan prime rates by 25 bps
China Market Update: Mainland Investors Cheer Loan Prime Rate Cu
Asian equities were mixed overnight as Mainland China outperformed and the US dollar strengthened.
PBoC cuts one-year Loan Prime Rate by 25 bps to 3.10% vs. 3.15% expected
The People's Bank of China (PBoC) announced on Monday that it cut the one-year Loan Prime Rate (LPR) by 25 basis points (bps) from 3.35% to 3.10% and cut the five-year LPR from 3.85% to 3.60%.
PBoC cuts loan prime rates
The one-year loan prime rate (LPR) was cut from 3.35% to 3.1%, while the five-year LPR was lowered from 3.85% to 3.6%, the People’s Bank of China (PBoC) said in a statement. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
8h
PBOC cuts policy interest rate to 3.1 percent, more than estimates
The People's bank of China has officially announced a reduction in its policy interest rate by 25 basis points, bringing it down to 3.1 percent. This decision, made public on Monday, comes as market ...
17h
Hang Seng Index Declines Despite Mainland Real Estate Surge After PBoC Cuts
Hang Seng Index falls as tech stocks drag, while mainland China equities rise on PBoC rate cuts, boosting property stocks.
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