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Chinese Banks Hold Lending Rates After PBOC Signals Caution
Chinese banks kept their benchmark lending rates unchanged for August, as profit margins come under pressure and policymakers focus on the health of financial institutions. The one-year loan prime rate will stay at 3.35% and the five-year rate, a reference for long-term credit including mortgages, remains at 3.85%, according to a Tuesday statement from the People’s Bank of China. The moves were in line with the forecasts of all economists surveyed by Bloomberg. The decisions reflect a balancing act by China, after PBOC Governor Pan Gongsheng said last week that authorities will avoid adopting “drastic” measures ... (full story)
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- Posted: Aug 20, 2024 3:25am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,631
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