Free Trial

MNI BRIEF: China’s May Loan Prime Rate Unchanged

MNI (Singapore)
(MNI)Beijing
True

China's Loan Prime Rate remained unchanged on Monday according to a People's Bank of China statement, in line with market expectation as the drop in market rates and efforts to curb idle funds in the financial system restrained rate cut chances.

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%. The rate last changed in February when the five-year plus maturity was reduced 25 basis points, while one-year tenor held steady.n(See MNI PBOC WATCH: May LPR To Remain Steady As Market Rates Fall )

Keep reading...Show less
153 words

To read the full story

Close

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.

China's Loan Prime Rate remained unchanged on Monday according to a People's Bank of China statement, in line with market expectation as the drop in market rates and efforts to curb idle funds in the financial system restrained rate cut chances.

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%. The rate last changed in February when the five-year plus maturity was reduced 25 basis points, while one-year tenor held steady.n(See MNI PBOC WATCH: May LPR To Remain Steady As Market Rates Fall )

Keep reading...Show less