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China Loan Prime Rate 1Y
the Loan Prime Rate (LPR) as the new lending standard for new bank loans to households and businesses, effectively displacing the central bank's one-year lending rate as the new lending benchmark it was declared on August 17th, 2019, by the People's Bank of China (PBOC). The rate is based on a weighted average of loan rates submitted by 18 commercial banks to the national interbank financing center by 9:00 a.m. CST on the 20th of each month, based on what they have bid for PBOC liquidity in open market operations.
A higher than expected figure should be seen as positive (bullish) for the CNY while a lower than expected figure should be seen as negative (bearish) for the CNY.
News (CNY)
China Manufacturing Activity Shrinks On Weak Exports
China's manufacturing activity contracted in April as tariff threats damped export orders, official purchasing managers' survey data from the National Bureau of Statistics revealed Wednesday. The official manufacturing PMI slid to 49.0 in April from 50.5 in March. This was the lowest score in 16 months and also remained below forecast of 49.7.
RTTNews | 9h 35min ago
China Holds Benchmark Lending Rates As Expected
The People's Bank of China left its interest rates unchanged for the sixth successive session on Monday. The central bank retained its one-year loan prime rate at 3.10 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was 3.60 percent, unchanged from the previous month. The decision matched expectations.
RTTNews | 9 days ago
China Economic Growth Beats Expectations
China's economy logged stronger-than-expected growth in the first quarter as fiscal support helped to boost domestic demand but escalating trade tariff threats damps the outlook. Gross domestic product grew 5.4 percent year-on-year, data published by the National Bureau of Statistics revealed on Wednesday. This was better than economists' forecast of 5.1 percent.
RTTNews | 14 days ago
