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STATE OF PLAY: China LPR Seen Steady, Before Cuts Later In '22

MNI (Singapore)

The PBOC is expected to ease the LPR over coming months as it seeks to boost bank lending and support an economic recovery.

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China’s Loan Prime Rate is expected to be cut over coming months after banks moved to protect net interest margins by lowering deposit rates, but analysts said the LPR should be kept steady on Tuesday in line with the People's Bank of China’s decision to leave its medium-term lending facility rate unchanged on Sept 15.

While the 18 lenders surveyed for the LPR may keep quotations unchanged this month, there will be room for future reductions after big state-owned banks and most medium-sized commercial lenders cut deposit rates from Sept 15, said China Minsheng Banking Corp chief economist Wen Bin.

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China’s Loan Prime Rate is expected to be cut over coming months after banks moved to protect net interest margins by lowering deposit rates, but analysts said the LPR should be kept steady on Tuesday in line with the People's Bank of China’s decision to leave its medium-term lending facility rate unchanged on Sept 15.

While the 18 lenders surveyed for the LPR may keep quotations unchanged this month, there will be room for future reductions after big state-owned banks and most medium-sized commercial lenders cut deposit rates from Sept 15, said China Minsheng Banking Corp chief economist Wen Bin.

Keep reading...Show less