CNY Forex News
China Keeps Lending Rates Unchanged As Expected
China maintained its benchmark lending rates unchanged as expected after the economy showed signs of improvement at the start of the year. At a monthly fixing on Monday, the People's Bank of China kept the one-year loan prime rate at 3.45 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.95 percent.
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2 days ago
China GDP Growth Tops Expectations In Q1
China's economy posted a stronger-than-expected growth in the first quarter as strong exports on the back of weaker currency helped to counteract the downturn in the property market. Gross domestic product grew 5.3 percent on a yearly basis in the first quarter, the National Bureau of Statistics reported Tuesday. The growth rate exceeded both expectations of 5.0 percent and the previous quarter'
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8 days ago
China GDP Expands Annualized 5.3% In Q1
China's gross domestic product gained 5.3 percent on year in the first quarter of 2024, the National Bureau of Statistics said on Tuesday - exceeding expectations for an increase of 4.8 percent and up from 5.2 percent in the previous three months.
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8 days ago
China Keeps Medium-Term Lending Facility Rate Unchanged
China left its medium-term lending facility rate unchanged on Monday as the central bank focus more on diverting risks to the weakening yuan. The People's Bank of China conducted CNY 100 billion of one-year MLF at an interest rate of 2.5 percent. The interest rate was kept unchanged from the previous session. The bank injected CNY 2 billion via seven-day reverse repos at a rate of 1.8 percent.
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9 days ago
China Inflation Eases More Than Expected; Producer Prices Fall Further
China's consumer price inflation slowed more than expected in March and producer prices continued to decline, reflecting the existence of deep deflationary pressures.
The consumer price index gained only 0.1 percent on a yearly basis in March, the National Bureau of Statistics said Thursday. This was slower than the 0.7 percent rise in February and also weaker than economists' forecast.
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13 days ago
China Inflation Sinks 1.0% On Month In March
Consumer prices in China fell 1.0 percent on month in March, the National Bureau of Statistics said on Thursday.
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13 days ago
Fitch Lowers China's Rating Outlook On Risks To Public Finances
Fitch Ratings lowered China's rating outlook on Wednesday citing rising risks to public finance amid the economy transforming to a more sustainable growth path from its current property-reliant growth model. China's sovereign rating outlook was downgraded to 'negative' from 'stable'.
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14 days ago
China Service Sector Logs Faster Growth
China's service sector expanded at a faster pace in March with rising new business and improving confidence, survey results from S&P Global showed on Wednesday. The Caixin service sector Purchasing Managers' Index, or PMI, rose to 52.7 in March from 52.5 in February. The score signaled an increase in services activity for the fifteenth successive month.
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21 days ago
China Keeps Key Lending Rates Unchanged
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.
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35 days ago
China Industrial Output Growth Tops Expectations; Retail Sales Soften
China industrial production grew more than expected in the January to February period, but retail sales growth softened and property investment continued a notable decline, adding scope for policy stimulus as the government aims to achieve around 5 percent growth target. Industrial output posted an increase of 7.0 percent in the January to February period.
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37 days ago
