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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: China’s Feb Five-Year Loan Prime Rate Down By 25bps
China's five-year Loan Prime Rate fell by 25bp on Tuesday according to a People's Bank of China statement, following the central bank’s previous moves to reduce lenders’ funding cost.
The one-year LPR, based on the PBOC’s Medium-term Lending Facility rate and quotes submitted by 20 banks, remained unchanged at 3.45%, while the five-year plus maturity declined 25bp to 3.95% from 4.2%. (See:MNI PBOC WATCH: LPR Cuts Possible Despite Steady MLF )
The central bank kept its one-year MLF rate steady on Sunday at 2.5%, disappointing the market which had expected a reduction, but pumped about CNY1billion of MLF into the interbank market.
The central bank will likely guide down lenders’ deposit rates to support the lower loan interest rates.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.