PBoC leaves one-year loan prime rate unchanged at 3.85%
|The People's Bank of China has left the one-year loan prime rate unchanged at 3.85%, and the five-year loan prime rate unchanged at 4.65%.
There has been no reaction in the markets related such as the Australian dollar which trades at 0.7710 and higher on the day by 0.3%.
Description of the PBoC Interest Rate Decision
The PBoC Interest Rate Decision is announced by the People´s Bank of China. If the PBoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CNY. Likewise, if the PBoC has a dovish view on the Chinese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.
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