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PBOC May Cut Benchmark Lending Rate In Q2: Daily

CHINA PRESS
MNI (Singapore)

The People’s Bank of China is still likely to cut the benchmark Loan Prime Rate by 10 basis points in Q2 to stabilise economic growth, the Economic Information Daily reported citing Wang Qing, chief analyst of Golden Credit Rating. The PBOC may continue to boost targeted support for small business and the logistics sector, including increasing the quota of re-lending, the newspaper said citing Wang Yifeng, chief analyst at Everbright Securities. The central bank set up CNY200 billion relending for technological innovation on Thursday and is accelerating the release of CNY100 billion relending for transportation and logistics, which are expected to boost banks’ loan issuance by CNY1 trillion, the newspaper said.

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