Breaking
People's Bank of China Lowers 'De Facto Benchmark Rate' LPR by 10bp
Uk Jin
Summary
- The People's Bank of China announced that it has lowered the Loan Prime Rate (LPR) to 3.00% for a one-year term and 3.50% for a five-year term.
- This cut is the first in seven months since last October, with a reduction of 10bp each compared to the previous month.
- The LPR is considered a de facto benchmark rate, indicating a monetary easing policy by China.
On the 20th, the People's Bank of China, the central bank of China, announced that it has set the Loan Prime Rate (LPR) at 3.00% for a one-year term and 3.50% for a five-year term. This is a reduction of 10bp (1bp=0.01% point) compared to the previous month.
The LPR had maintained a freeze stance for six months since November last year. This cut is the first in seven months since the LPR for one-year and five-year terms was reduced by 25bp last October.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
