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MNI PBOC WATCH: Sept LPR Holds Steady, Further Cuts In Sight

China's Loan Prime Rate remained unchanged in September.

MNI (BEIJING) - The People’s Bank of China is planning additional measures to lower funding costs and boost credit demand as concern grows over meeting the government’s 5% 2024 GDP growth target and despite lender’s narrowed interest margin, which will continue to limit significant easing. 

China's Loan Prime Rate remained unchanged on Friday at 3.35% for the one-year maturity and 3.85% for the over five-year tenor. Both rates unexpectedly fell in July by 10 basis points after the central bank lowered the 7-day reverse repo rate by the same level. MNI reported this week the LPR would likely hold steady. (See MNI PBOC WATCH: LPR To Hold, More Easing Eyed On Fed Cut)

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MNI (BEIJING) - The People’s Bank of China is planning additional measures to lower funding costs and boost credit demand as concern grows over meeting the government’s 5% 2024 GDP growth target and despite lender’s narrowed interest margin, which will continue to limit significant easing. 

China's Loan Prime Rate remained unchanged on Friday at 3.35% for the one-year maturity and 3.85% for the over five-year tenor. Both rates unexpectedly fell in July by 10 basis points after the central bank lowered the 7-day reverse repo rate by the same level. MNI reported this week the LPR would likely hold steady. (See MNI PBOC WATCH: LPR To Hold, More Easing Eyed On Fed Cut)

Keep reading...Show less