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CHINA PRESS: Oct LPRs Seen To Be Reduced By 20Bp

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

The October Loan Prime Rates, set to be released on Monday, will most likely be lowered by 20 basis points following the People’s Bank of China’s 20bp cut to the 7-day reverse repo rate last month, Securities Daily reported citing analysts. The LPR will likely remain stable over November and December as authorities monitor policy impacts, while the historic low of banks’ net interest margin will constraint downward movement, the daily said, citing Wang Qing, chief macro analyst at Golden Credit Rating. The one-year and five-year LPRs have been reduced by 10bp and 35bp so far this year to 3.35% and 3.85%.

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The October Loan Prime Rates, set to be released on Monday, will most likely be lowered by 20 basis points following the People’s Bank of China’s 20bp cut to the 7-day reverse repo rate last month, Securities Daily reported citing analysts. The LPR will likely remain stable over November and December as authorities monitor policy impacts, while the historic low of banks’ net interest margin will constraint downward movement, the daily said, citing Wang Qing, chief macro analyst at Golden Credit Rating. The one-year and five-year LPRs have been reduced by 10bp and 35bp so far this year to 3.35% and 3.85%.