LPR: China makes biggest-ever cut to key mortgage rate to support housing market
10 months ago

LPR: China makes biggest-ever cut to key mortgage rate to support housing market

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China’s central bank has cut its key mortgage reference rate by a record amount, as it ramps up efforts to stem a prolonged property crisis. The People’s Bank of China announced Tuesday that it would cut its five-year loan prime rate from 4.2% to 3.95%, while keeping the one-year LPR unchanged at 3.45%. “Today’s 25 cut to the five-year LPR is clearly aimed at supporting the housing market,” analysts from Capital Economics said in a note on Tuesday. China’s economy has been hobbled by a real estate downturn since 2021, when a government crackdown on developers’ borrowing triggered a liquidity crisis in the sector.

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History of this topic

China's loan prime rates remain unchanged
5 days, 5 hours ago

China's loan prime rates remain unchanged

China Daily  

BEIJING -- China's one-year loan prime rate, a market-based benchmark lending rate, came in at 3.1 percent Friday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.6 percent, according to the National Interbank Funding Center. Analysts believe the lower lending rate will help relieve …

Rate cuts set to boost market confidence
3 months ago

Rate cuts set to boost market confidence

China Daily  

China's top financial regulators, in a move that went beyond market expectations, unveiled a potent combination of monetary easing measures on Tuesday, aimed at anchoring market confidence and underpinning economic recovery amid domestic and global headwinds, analysts said. Pan Gongsheng, governor of the People's Bank of China, the nation's central bank, said at a news conference on Tuesday that the …

Housing market hopeful of mortgage rate cuts
3 months, 1 week ago

Housing market hopeful of mortgage rate cuts

China Daily  

A bank employee addresses customer queries on home loans in Haian, Jiangsu province, in July. XU JINGBAI/FOR CHINA DAILY China's housing market expectations for a further decline in existing mortgage rates have turned stronger, real estate industry observers said on Wednesday. Zou Lan, head of the monetary policy department of the People's Bank of China, said during a news conference …

Big banks cut deposit rates to strengthen sector stability
4 months, 4 weeks ago

Big banks cut deposit rates to strengthen sector stability

China Daily  

This file photo shows a worker counting Chinese currency at a bank in Lianyungang, East China's Jiangsu province. Several major Chinese commercial banks cut deposit rates on Thursday, signaling a new round of deposit rate cuts that could pave the way for further reductions in policy benchmarks of lending rates to bolster economic growth, market analysts said. The LPR reduction …

China cuts 1-year benchmark rate and doubles subsidies for EVs in its ‘cash for clunkers’ program
5 months ago

China cuts 1-year benchmark rate and doubles subsidies for EVs in its ‘cash for clunkers’ program

Associated Press  

BANGKOK — China ratcheted up its effort to reinvigorate its slowing economy Thursday by unexpectedly cutting a key policy rate and also doubling subsidies for electric vehicles bought to replace older cars. The People’s Bank of China said it cut its lending rate for one-year medium term policy loans by 20 basis points to 2.3%. Major state-run banks cut deposit …

China lowers MLF interest rate to reduce financing costs
5 months ago

China lowers MLF interest rate to reduce financing costs

China Daily  

File photo shows an exterior view of the People's Bank of China in Beijing, capital of China. BEIJING - China's central bank on Thursday lowered the medium-term lending facility interest rate to decrease the borrowing costs of the real economy. The People's Bank of China on Thursday also pumped 200 billion yuan into the market via the MLF, which will …

China lowers MLF interest rate to reduce financing costs
5 months ago

China lowers MLF interest rate to reduce financing costs

China Daily  

File photo shows an exterior view of the People's Bank of China in Beijing, capital of China. BEIJING - China's central bank on Thursday lowered the medium-term lending facility interest rate to decrease the borrowing costs of the real economy. The People's Bank of China on Thursday also pumped 200 billion yuan into the market via the MLF, which will …

Major Chinese banks cut deposit rates
5 months ago

Major Chinese banks cut deposit rates

China Daily  

China's six largest State-owned banks announced a reduction in deposit interest rates on Thursday by 20 basis points at most, the Beijing News reported. The three-month, six-month and one-year deposit rates were cut by 10 basis points to 1.05, 1.25 and 1.35 percent, respectively, according to the official deposit interest rates released by the Industrial and Commercial Bank of China, …

Major Chinese banks cut deposit rates
5 months ago

Major Chinese banks cut deposit rates

China Daily  

This file photo shows a worker counting Chinese currency at a bank in Lianyungang, East China's Jiangsu province. China's six largest State-owned banks announced a reduction in deposit interest rates on Thursday by 20 basis points at most, the Beijing News reported. The three-month, six-month and one-year deposit rates were cut by 10 basis points to 1.05, 1.25 and 1.35 …

China cuts benchmark lending rate LPR
5 months ago

China cuts benchmark lending rate LPR

China Daily  

A pedestrian walks past the headquarters of the PBOC in Beijing. JIANG QIMING/CHINA NEWS SERVICE BEIJING -- China on Monday cut the market-based benchmark lending rate, in line with market expectations as authorities stepped up monetary support to shore up the economy. The one-year loan prime rate came in at 3.35 percent Monday, down from the previous reading of 3.45 …

China's loan prime rates remain unchanged
6 months ago

China's loan prime rates remain unchanged

China Daily  

This file photo shows a worker counting Chinese currency at a bank in Lianyungang, East China's Jiangsu province. BEIJING -- China's one-year loan prime rate, a market-based benchmark lending rate, came in at 3.45 percent Thursday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of …

China leaves benchmark lending rates unchanged, as expected
9 months ago

China leaves benchmark lending rates unchanged, as expected

Hindustan Times  

China left benchmark lending rates unchanged at a monthly fixing on Wednesday, in line with market expectations, after the central bank kept a key policy rate steady last week amid some signs of improvement in the broad economy. While China's factory output and retail sales beat expectations in the January-February period, property investment in China fell 9% year-on-year in the …

Significant interest rate cuts, just what the market needs
10 months ago

Significant interest rate cuts, just what the market needs

China Daily  

This file photo shows a worker counting Chinese currency at a bank in Lianyungang, East China's Jiangsu province. China's central bank announced the largest cut to a benchmark mortgage rate in recent years on Tuesday, lowering the over-five-year loan prime rate by 25 basis points to 3.95 percent. In 2023, the central bank introduced a series of rate cuts, lowering …

China implements biggest LPR cut on record
10 months ago

China implements biggest LPR cut on record

China Daily  

By Zhou Lanxu| chinadaily.com.cn| Updated :2024-02-21 China implemented the biggest cut on record to a mortgage rate benchmark on Tuesday, indicating monetary policymakers' dedication to bolstering economic revival, with additional cuts to a key policy rate likely on the horizon, experts said. With Tuesday's cut underscoring policymakers' ramped-up efforts to address the housing market weakness and stabilize the broader economy, …

China cuts key interest rate in the latest move to boost its ailing property sector
10 months ago

China cuts key interest rate in the latest move to boost its ailing property sector

Associated Press  

BANGKOK — China’s central bank announced Tuesday that it cut its 5-year loan prime rate while leaving its 1-year rate unchanged in the latest move to ease pressures on the ailing property market. But coupled with efforts to provide increased credit support to developers, today’s cut should help to reduce pressure on the property sector somewhat,” Julian Evans-Pritchard of Capital …

China cuts mortgage reference rate more than expected to revive property market
10 months ago

China cuts mortgage reference rate more than expected to revive property market

Hindustan Times  

SHANGHAI/SINGAPORE, Feb 20 - China cut the benchmark reference rate for mortgages at a monthly fixing on Tuesday by more than expected, as authorities ramped up efforts to stimulate credit demand and revive the property market. China cut the benchmark reference rate for mortgages at a monthly fixing on Tuesday as authorities ramped up efforts to stimulate credit demand and …

China implements biggest LPR cut on record
10 months ago

China implements biggest LPR cut on record

China Daily  

China implemented the biggest cut on record to a mortgage rate benchmark on Tuesday, indicating monetary policymakers' dedication to bolstering economic revival, with additional cuts to a key policy rate likely on the horizon, experts said. With Tuesday's cut underscoring policymakers' ramped-up efforts to address the housing market weakness and stabilize the broader economy, experts said the PBOC may add …

China’s central bank eyes reserve ratio cut to boost lending
11 months, 2 weeks ago

China’s central bank eyes reserve ratio cut to boost lending

Live Mint  

Chinese authorities have indicated a possible cut in the reserve ratio which is the amount of money banks must set aside as reserves to propel lending, a report said. In an interview with state-run Xinhua News Agency, Zou Lan, head of the People’s Bank of China’s monetary policy department said that the PBOC may use open market operations, medium-term lending …

New deposit rate cuts herald cheaper loans
1 year ago

New deposit rate cuts herald cheaper loans

China Daily  

A visitor walks past the booth of Bank of China during an expo in Beijing. CHEN JUNMIN/FOR CHINA DAILY Reductions most substantial since 2016; may incentivize consumption China's biggest banks cut interest rates on deposits on Friday, which analysts said may have marked the biggest cut since 2016 and will likely help create room for benchmark lending rates to decline …

PBOC cuts rates to boost growth
1 year, 6 months ago

PBOC cuts rates to boost growth

China Daily  

File photo shows an exterior view of the People's Bank of China in Beijing. Move comes amid stepped-up efforts to consolidate recovery, hike confidence China's central bank cut its short-term lending rate, the first such move since August 2022, as the country stepped up measures to consolidate economic recovery and restore market confidence amid downward pressure, analysts said on Tuesday. …

PBOC cuts rates to boost growth
1 year, 6 months ago

PBOC cuts rates to boost growth

China Daily  

Move comes amid stepped-up efforts to consolidate recovery, hike confidence China's central bank cut its short-term lending rate, the first such move since August 2022, as the country stepped up measures to consolidate economic recovery and restore market confidence amid downward pressure, analysts said on Tuesday. Thanks to Tuesday's policy interest rate cut, the country's key benchmark lending rates for …

专家：央行降息将促进我国经济复苏
2 years, 4 months ago

专家：央行降息将促进我国经济复苏

China Daily  

日前我国一年期和五年期以上贷款市场报价利率（LPR）双双下调，专家指出，LPR下调一方面将有助于降低企业融资成本、提振市场主体信心，另一方面也有助于稳定房地产业、降低居民房贷负担，促进消费。 A resident in Guangzhou checks the model of a building before purchasing an apartment. The reduction in China's benchmark lending rates on Monday will boost the nation's economic recovery by spurring corporate and household spending and stabilizing the real estate sector, experts said. 中国民生银行首席经济学家温彬解读称：“此举将对降低实体经济融资成本、提振市场主体信心、促进信贷有效需求回升发挥积极作用。” The marked reduction in the over-five-year LPR will help the real estate sector stabilize by …

央行超预期下调政策利率，稳增长措施再加码
2 years, 4 months ago

央行超预期下调政策利率，稳增长措施再加码

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. 8月15日，人民银行开展4000亿元中期借贷便利（MLF）操作，中标利率下调10个基点至2.75％，7天期逆回购利率同步下调10个基点至2％，为尚需稳固的国内经济注入金融强心剂。面对尚不稳固的经济恢复基础，宏观政策仍以稳增长为主线，择机加码调控，积极对冲经济下行压力。 China's central bank delivered surprise interest rate cuts on Monday, suggesting that the country is still willing to lend more monetary support on the aggregate front in the coming months despite a potential rise in structural inflationary pressure, experts said. 专家表示，中国人民银行8月15日超预期下调政策利率，表明尽管结构性通胀压力可能上升，但在未来几个月货币政策将继续从总量上发力。 Thanks to Monday's …

央行超预期下调政策利率，稳增长措施再加码
2 years, 4 months ago

央行超预期下调政策利率，稳增长措施再加码

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. 8月15日，人民银行开展4000亿元中期借贷便利（MLF）操作，中标利率下调10个基点至2.75％，7天期逆回购利率同步下调10个基点至2％，为尚需稳固的国内经济注入金融强心剂。面对尚不稳固的经济恢复基础，宏观政策仍以稳增长为主线，择机加码调控，积极对冲经济下行压力。 China's central bank delivered surprise interest rate cuts on Monday, suggesting that the country is still willing to lend more monetary support on the aggregate front in the coming months despite a potential rise in structural inflationary pressure, experts said. 专家表示，中国人民银行8月15日超预期下调政策利率，表明尽管结构性通胀压力可能上升，但在未来几个月货币政策将继续从总量上发力。 Thanks to Monday's …

Unchanged LPR signals more aid for economy
2 years, 8 months ago

Unchanged LPR signals more aid for economy

China Daily  

Bank employees in Linyi, Shandong province, explain agricultural loan details to a farmer. With the People's Bank of China, the country's central bank, surprising the market to some extent on Wednesday by keeping the loan prime rate, a market-based benchmark lending rate, unchanged, the country's monetary policy will continue to increase its support for the real economy in a stable …

China signals caution on inflation despite COVID, Ukraine woes
2 years, 8 months ago

China signals caution on inflation despite COVID, Ukraine woes

Al Jazeera  

The People’s Bank of China keeps one-year loan prime rate at 3.7 percent and the five-year rate at 4.6 percent. China held key interest rates for corporate and household loans steady on Wednesday, a surprise move that signals Beijing remains cautious about policy easing even as COVID-19 and the Ukraine war weigh on growth. The People’s Bank of China kept …

一周双语新闻热词汇总（1.15-21）
2 years, 11 months ago

一周双语新闻热词汇总（1.15-21）

China Daily  

国内生产总值 gross domestic product 请看例句： The country's gross domestic product expanded 8.1% year on year to 114 trillion yuan last year, the National Bureau of Statistics said. 人口出生率下降 declining birthrate 请看例句： China's declining birthrate in recent years has been driven by a decreasing number of women of childbearing age, changes in young people's attitudes toward marriage and fertility, and rising …

China economy: LPR cut for the first time in 20 months
3 years ago

China economy: LPR cut for the first time in 20 months

CNN  

Hong Kong CNN Business — China’s central bank cutits main interest rate for the first time in 20 months, as authorities step up efforts to boost an economy that has been hit by pandemic-related curbs, a real estate slump and an unprecedented crackdown on private enterprises. “The cut reinforces our view that authorities are increasingly open to cutting interest rates …

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