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MNI BRIEF: China Oct LPR Reduced By 25bp

China has cut its LPR 25bp.
Central Bank NewsPolicy NewsPBOCHomepageAPACEM Policy NewsChinaEM BriefBriefGlobalStoryRegion

MNI (BEIJING) - China's Loan Prime Rate fell 25 basis points on Monday according to a People's Bank of China statement, an expected move after the central bank cut the 7-day reverse repo rate by 20bp last month.

The one-year LPR was reduced to 3.1% from 3.35%, while the five-year plus maturity fell to 3.6% from 3.85%. Both rates were unexpectedly reduced in July by 10bp after the central bank lowered the 7-day reverse repo rate by the same level. (See MNI PBOC Watch: China To Cut LPR 20-25bp To Support Demand)

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MNI (BEIJING) - China's Loan Prime Rate fell 25 basis points on Monday according to a People's Bank of China statement, an expected move after the central bank cut the 7-day reverse repo rate by 20bp last month.

The one-year LPR was reduced to 3.1% from 3.35%, while the five-year plus maturity fell to 3.6% from 3.85%. Both rates were unexpectedly reduced in July by 10bp after the central bank lowered the 7-day reverse repo rate by the same level. (See MNI PBOC Watch: China To Cut LPR 20-25bp To Support Demand)

Keep reading...Show less