PBoC sets 1-year loan prime rate at 3.85% vs 4.05%
|Following the March 20th rate decision, where the People's Bank of China (PBoC) held its benchmark interest rates steady on, defying market forecasts amid widespread disruptions to businesses and activity from the COVID-19 crisis, the PBoC sets 1-year loan prime rate at 3.85% vs 4.05% a month earlier.
Key notes
- PBoC sets 1-year loan prime rate at 3.85% vs 4.05%
- China sets 5-year loan prime rate at 4.65% vs 4.75% a month earlier.
- China cuts 1-year, 5-year loan prime rates.
- China cuts 1-year loan prime rate by 20 bps, 5-year loan prime rate by 10 bps.
About PBoC Interest Rate Decisions
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.