Summary of China unexpectedly leaves benchmark lending rates unchanged after Fed's jumbo cut
Summary of China unexpectedly leaves benchmark lending rates unchanged after Fed's jumbo cut
China's central bank, the People's Bank of China (PBOC), kept its main benchmark lending rates unchanged at the monthly fixing, despite market expectations of a trim. The decision was made to maintain financial stability and focus on easing the debt burden on consumers and businesses. The move comes as China's economy faces a prolonged property crisis and weakened consumer and business sentiment.
quoting nevent1q…h3pgChina unexpectedly leaves benchmark lending rates unchanged after Fed's jumbo cut
The People's Bank of China (PBOC) said it would keep the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%.
https://www.cnbc.com/2024/09/20/china-unexpectedly-leaves-benchmark-lending-rates-unchanged-after-feds-jumbo-cut.html
China's central bank, the People's Bank of China (PBOC), kept its main benchmark lending rates unchanged at the monthly fixing, despite market expectations of a trim. The decision was made to maintain financial stability and focus on easing the debt burden on consumers and businesses. The move comes as China's economy faces a prolonged property crisis and weakened consumer and business sentiment.