Policymakers are wary of the risks that the yuan will depreciate and capital outflows if further easing is undertaken. The one-year loan prime rate (LPR) was kept at 3.70%, and the five-year LPR was unchanged at 4.45% on Thursday, September 19. China sat tight on its benchmark loaning rates for corporate and family credits, true … Read more
BEIJING: China’s central bank on Monday lowered the rate of its 14-day reverse repos by 10 basis points for the first time since June 2020, to maintain stable liquidity in the banking system ahead of the Spring Festival. The People’s Bank of China (PBOC) injected 150 billion yuan ($23.7 billion) worth of reverse repos into … Read more
BEIJING: China further reduced bank lending costs on Thursday in the latest move to boost its stuttering economy, providing some much-needed support to the country’s beleaguered developers. Property firm shares and bonds surged on the fresh rate cut from the People’s Bank of China, the second in two months, days after Beijing reported slower growth … Read more
BEIJING: China’s central bank cut a benchmark interest rate on Monday for the first time in nearly two years in a bid to kick-start growth in the world’s number two economy, as it creaks under the impact of a real estate crisis and coronavirus flare-ups. The People’s Bank of China said in a statement that it … Read more
