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 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.
RTTNews | 3 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'
RTTNews | 9 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.
RTTNews | 10 days ago
