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MNI BRIEF: China’s March Loan Prime Rate Unchanged

MNI (Singapore)
(MNI)Beijing

China's Loan Prime Rate remained unchanged on Wednesday according to a People's Bank of China statement, in line with market expectation following the February's significant LPR cut and the hold of a key policy rate on March 15.

The one-year LPR, based on the PBOC’s Medium-term Lending Facility rate and quotes submitted by 20 banks, was left at 3.45% and the five-year plus maturity was held at 3.95%. (See MNI PBOC Watch: LPR To Hold, Idle Funds Targeted.)

The central bank kept its one-year MLF rate steady last week at 2.5%, but made its first net drain of the MLF since December at CNY94 billion, adding to investor concerns of a change to ample liquidity conditions as the Bank targets idle funds.

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Policy NewsCentral Bank NewsPBOCAPACChinaEM Policy NewsEM Policy StoryEM BriefEM Central Bank NewsPeoples Bank of ChinaBriefStoryRegion
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