SHANGHAI : China is widely expected to leave its benchmark lending rates unchanged at the monthly fixing on Monday, a Reuters survey showed, as investors believe the world's second-largest economy is on track to recover from COVID-19 slumps.Some early signs of recovery seen from a bout of better-than-expe
SHANGHAI : China is widely expected to leave its benchmark lending rates unchanged at the monthly fixing on Monday, a Reuters survey showed, as investors believe the world's second-largest economy is on track to recover from COVID-19 slumps.
The loan prime rate , which banks normally charge their best clients, is calculated each month after 18 designated commercial banks submit proposed rates to the People's Bank of China . The other six respondents, however, expected a marginal interest rate reduction to the five-year LPR, while believing the one-year tenor would stay steady.
Separately, China's central bank ramped up medium-term liquidity injections as it rolled over maturing policy loans this week, while keeping the interest rate unchanged."Given that the economy is recovering and that the PBOC left the one-year MLF rate unchanged, we predict that the chance for a change in the LPR is small," economists at ING said in a note.
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