HomeEconomyChina keeps benchmark lending rate unchanged for fifth straight month Economy China keeps benchmark lending rate unchanged for fifth straight month By hossam a January 20, 2023 0 45 views Share FacebookTwitterPinterestWhatsApp GS +0.% Add to/Remove from Watchlist Join the watch list Add location Location added successfully: Please name your portfolio Types of : purchase Sell date: quantity: price Point value: Leverage: 1:1 1: 1: 1: SHANGHAI (Reuters) – As expected, China left its benchmark lending rate unchanged for the fifth straight month on Friday, but analysts said cuts were likely ahead as the central bank pledged to support the economy. An economy disrupted by COVID. One-year loan market quotation rate (LPR ) – latest and most outstanding loan based on – stay 3.%. The five-year LPR, considered the reference rate for mortgages, remained at 4. %. The last time China lowered the LPR was in August. The January LPR setting is in line with a Reuters poll this week, with nearly two-thirds of respondents expecting no change to the LPR. The upcoming Lunar New Year holiday, the decision of the People’s Bank of China (PBOC) to keep policy rates unchanged this month and a new mortgage rate mechanism were cited by analysts as reasons for the inaction. Still, analysts expect more policy easing to come. Capital Economics expects a rate cut could happen as early as next month. China’s economy grew only 3% in , far below the official target, while The government’s abrupt end to its zero-COVID policy has fueled hopes of a strong recovery. However, three years of zero COVID may have left scars that could hamper future consumption recovery, with Goldman Sachs (NYSE: 100GS) in a report on Thursday said in. The release of the January LPR is the last working day before the Chinese New Year holiday. Prior to this, China established a dynamic adjustment mechanism for mortgage rates for first-time buyers this month. The policy change has reduced the urgency to reduce the five-year LPR, analysts said. LPRs are calculated after each month Designated commercial banks submit quotations to the National Interbank Funding Center under the People’s Bank of China. 200 Share FacebookTwitterPinterestWhatsApp Previous articleAll Quiet on the Western Front, Baldo, Elvis Presley Shortlisted for Cinematographer AwardNext articleLive-action movie “However, You're So Sweet” starring Yukio Suenaga as young Chigira hossam a RELATED ARTICLES Economy UK expected to reach broad deal to join Pacific trade pact soon March 29, 2023 Economy Corporate giants say anti-LGBT law would hurt Uganda’s economy March 29, 2023 Economy Poland's monetary policy should remain restrictive, MPC members say March 29, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS What to expect from Yonkers' Volpe in the big leagues March 29, 2023 Samsung builds a massive 17,400-square-foot halftime display for New York Mets Stadium March 29, 2023 WATCH: These glamorous hairstyles will be everywhere this summer March 29, 2023 Of All Street Style Shoes, These 10 Trends Are Perfect For Spring March 29, 2023 Load more Featured NEWS TJX Recycles Outdoor Metal Hanging Chairs With Fall Hazards September 14, 2022 'Abbott Elementary' and 'Harley Quinn' Producer's Emmy Hopes (and Bruce Wayne's Pee) September 9, 2022 Apple AirPods Pro 2 receives first firmware update September 25, 2022 Led by economic reforms, Tunisia seeks to cut fiscal deficit to 5.5% by 2023 December 23, 2022 Load more
