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MNI China Daily Summary: Friday, October 18

MNI (LONDON)

EXCLUSIVE: China's Loan Prime Rate will be reduced by 20-25 basis points next Monday following the People’s Bank of China’s 20bp cut to its key 7-day reverse repo rate last month, which will help guide down mortgage rates and reduce borrowing costs to shore up domestic demand. Authorities will set one-year LPR at either 3.10% or 3.15%  from 3.35%, while the over five-year maturity will fall to 3.60% or 3.65% from 3.85%.

POLICY: China is facing challenges from both real estate and capital markets, and the PBOC could cut reserve requirement ratio by a further 25 to 50bps before the year-end depending on market liquidity conditions, Governor Pan Gongsheng told a forum.

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MNI (LONDON)

EXCLUSIVE: China's Loan Prime Rate will be reduced by 20-25 basis points next Monday following the People’s Bank of China’s 20bp cut to its key 7-day reverse repo rate last month, which will help guide down mortgage rates and reduce borrowing costs to shore up domestic demand. Authorities will set one-year LPR at either 3.10% or 3.15%  from 3.35%, while the over five-year maturity will fall to 3.60% or 3.65% from 3.85%.

POLICY: China is facing challenges from both real estate and capital markets, and the PBOC could cut reserve requirement ratio by a further 25 to 50bps before the year-end depending on market liquidity conditions, Governor Pan Gongsheng told a forum.

Keep reading...Show less