MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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MNI BRIEF: China's Nov Loan Prime Rate Unchanged

MNI (Singapore)
(MNI) Beijing

China's reference lending rate remained unchanged on Monday, which was in line with market expectations as the central bank kept a key policy rate steady last Tuesday.

The Loan Prime Rate, based on the rate of People's Bank of China's Medium-term Lending Facility and quotes submitted by 18 banks, remains at 3.65% for the one-year maturity and 4.3% for over-five-years, according to a statement on the PBOC's website.

The PBOC partially rolled over CNY850 billion of one-year MLF last Tuesday with the rate unchanged, explaining that additional liquidity provided this month through pledged supplemental lending and relending tools had exceeded the maturing CNY1 trillion MLF.

However, advisors and analysts said the PBOC should guide the over-5-year LPR down given the softening in credit in October, particularly mortgage loans, which dragged down growth in total social finance. (See: MNI PBOC WATCH: Targeted Easing To Boost Credit, RRR Cut Seen)

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