SHANGHAI : China kept its benchmark lending rates unchanged for a sixth straight month in February, as expected, with the world's second-largest economy showing more signs of recovery from a pandemic-induced slump.A clutch of better-than-expected data recently suggests economic activity is rebounding as B
SHANGHAI : China kept its benchmark lending rates unchanged for a sixth straight month in February, as expected, with the world's second-largest economy showing more signs of recovery from a pandemic-induced slump.
"We expect the PBOC to stay accommodative in the first half of this year, but only through liquidity-related actions, not rate cuts," analysts at Barclays said in a note. New bank loans in China jumped more than expected to a record 4.9 trillion yuan in January as the central bank looks to kick-start recovery while new home prices rose for the first time in a year, as Beijing stepped up support for the property sector that accounts for a quarter of the domestic economy.
In spite of recovering momentum, some analysts expect rates will ease after China's annual parliamentary gathering in March, when the government announces key growth targets for the year. Tommy Xie, head of Greater China research at OCBC Bank, agreed rates would likely be cut in the coming months.
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