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5-Year LPR Will Be Lowered Later This Year - Herald

CHINA PRESS
MNI (BEIJING)

Authorities in China will likely lower the over-five-year loan prime rate later in H1 2023 by around 0.1 to 0.15 percentage points, according to the 21st Century Herald. Citing analysts, the paper said bringing the rate down will allow for lower housing loans, which will help the property market carry recovery momentum into the second half of the year. The decision to keep LPR rates stable in February was due to high marginal costs for banks, and authorities adopting a wait-and-see approach to developments in the property market.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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