Asian market latest: Asian markets slightly higher after Huawei reprieve, China rate move
5 years, 4 months ago

Asian market latest: Asian markets slightly higher after Huawei reprieve, China rate move

CNN  

Hong Kong CNN Business — Asian markets were slightly higher as China took the next, critical step in a long-awaited money management reform, and as the United States gave the Chinese tech company Huawei a slight reprieve in Washington’s ongoing trade war with Beijing. On Tuesday morning the People’s Bank of China set its new Loan Prime Rate at 4.25% — slightly lower than its existing benchmark one-year lending rate, which hasn’t changed in years. “While this should nudge banks to reduce lending rates slightly, the impact on economic activity will be marginal,” wrote analysts from Capital Economics in a research note Tuesday, adding that unlike a benchmark cut, “it will only feed through to borrowing costs on new loans, not outstanding ones.” The upshot, they added, is that China’s central bank “still has work to do.” Chinese property developers that are listed on the Hang Seng pulled back. Asian markets also had a chance to consider news from Washington on Monday that the US government would add more than 45 new businesses associated with Huawei to an export blacklist.

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History of this topic

China's loan prime rates remain unchanged
2 weeks, 6 days 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 …

China cuts benchmark lending rate LPR
5 months, 2 weeks 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 …

Stock market today: Asian shares are mixed as China reports its economy grew 4.7% in last quarter
5 months, 3 weeks ago

Stock market today: Asian shares are mixed as China reports its economy grew 4.7% in last quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

China's loan prime rates remain unchanged
6 months, 2 weeks 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, 2 weeks 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, 2 weeks 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 cuts key interest rate in the latest move to boost its ailing property sector
10 months, 2 weeks 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, 2 weeks 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 …

LPR: China makes biggest-ever cut to key mortgage rate to support housing market
10 months, 2 weeks 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 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 …

China cuts benchmark rates to bolster flagging economy
2 years, 11 months ago

China cuts benchmark rates to bolster flagging economy

Live Mint  

BEIJING : China’s central bank lowered its benchmark lending rates, stepping in to support a slowing economy that has been weighed down by a slump in the property market during a politically important year for leader Xi Jinping. The People’s Bank of China said Thursday that it cut its five-year loan prime rate, a benchmark for medium- and longer-term loans …

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 …

每日一词∣贷款市场报价利率 loan prime rate
4 years, 11 months ago

每日一词∣贷款市场报价利率 loan prime rate

China Daily  

我国将停止对新增贷款使用传统的基准贷款利率。自2020年1月1日起，贷款市场报价利率将成为银行新增贷款的唯一基准利率，该利率由央行于2019年8月推出。金融机构和客户商定的浮动利率可高于或低于基准利率。 China will stop using the traditional benchmark lending rate for new loans. The loan prime rate, which was introduced by the central bank in August, will become the only benchmark rate for banks' new lending as of Jan 1. 中国人民银行总部（图片来源：视觉中国） 【知识点】 贷款市场报价利率（LPR）是指由各报价行根据其对最优质客户执行的贷款利率，按照公开市场操作利率加点形成的方式报价，由中国人民银行授权全国银行间同业拆借中心计算得出并发布的利率。各银行实际发放的贷款利率可根据借款人的信用情况，考虑抵押、期限、利率浮动方式和类型等要素，在LPR基础上加减点确定。目前，LPR包括1年期和5年期以上两个期限品种。 为深化利率市场化改革，进一步推动LPR运用，中国人民银行于2019年12月28日发布公告，2020年3月1日至8月31日，将就存量浮动利率贷款的定价基准转换。客户可与金融机构协商决定“换锚”LPR，还是转为固定利率。 公告称，自2020年3月1日起，金融机构应与存量浮动利率贷款客户就定价基准转换条款进行协商，将原合同约定的利率定价方式转换为以LPR为定价基准加点形成（加点可为负值），加点数值在合同剩余期限内固定不变；也可转换为固定利率。 【重要讲话】 为实体经济服务是金融的天职，是金融的宗旨，也是防范金融风险的根本举措。要推动经济去杠杆，坚定执行稳健的货币政策，把国有企业降杠杆作为重中之重。 Serving the real economy is the bounden duty and purpose of the financial …

每日一词∣贷款市场报价利率 loan prime rate
4 years, 11 months ago

每日一词∣贷款市场报价利率 loan prime rate

China Daily  

我国将停止对新增贷款使用传统的基准贷款利率。自2020年1月1日起，贷款市场报价利率将成为银行新增贷款的唯一基准利率，该利率由央行于2019年8月推出。金融机构和客户商定的浮动利率可高于或低于基准利率。 China will stop using the traditional benchmark lending rate for new loans. The loan prime rate, which was introduced by the central bank in August, will become the only benchmark rate for banks' new lending as of Jan 1. 中国人民银行总部（图片来源：视觉中国） 【知识点】 贷款市场报价利率（LPR）是指由各报价行根据其对最优质客户执行的贷款利率，按照公开市场操作利率加点形成的方式报价，由中国人民银行授权全国银行间同业拆借中心计算得出并发布的利率。各银行实际发放的贷款利率可根据借款人的信用情况，考虑抵押、期限、利率浮动方式和类型等要素，在LPR基础上加减点确定。目前，LPR包括1年期和5年期以上两个期限品种。 为深化利率市场化改革，进一步推动LPR运用，中国人民银行于2019年12月28日发布公告，2020年3月1日至8月31日，将就存量浮动利率贷款的定价基准转换。客户可与金融机构协商决定“换锚”LPR，还是转为固定利率。 公告称，自2020年3月1日起，金融机构应与存量浮动利率贷款客户就定价基准转换条款进行协商，将原合同约定的利率定价方式转换为以LPR为定价基准加点形成（加点可为负值），加点数值在合同剩余期限内固定不变；也可转换为固定利率。 【重要讲话】 为实体经济服务是金融的天职，是金融的宗旨，也是防范金融风险的根本举措。要推动经济去杠杆，坚定执行稳健的货币政策，把国有企业降杠杆作为重中之重。 Serving the real economy is the bounden duty and purpose of the financial …

Hong Kong stocks rebound a bit after turbulent week – Asian market latest
5 years, 1 month ago

Hong Kong stocks rebound a bit after turbulent week – Asian market latest

CNN  

Hong Kong CNN Business — Hong Kong’s Hang Seng Index ended up 1.4% Monday, the biggest daily gain in two weeks, continuing a slight rebound after last week’s losses. The Hong Kong government warned Friday that mass protests could cause the economy to shrink by 1.3% this year, which would mark the first annual recession since 2009. The People’s Bank …

China says it could do more to stimulate the economy after tiny rate cut
5 years, 4 months ago

China says it could do more to stimulate the economy after tiny rate cut

CNN  

Hong Kong CNN Business — China signaled Tuesdaythat it could take bigger steps to boost its flagging economy after unveiling what amounted to the slimmest of rate cuts on new loans for companies. “While this should nudge banks to reduce lending rates slightly, the impact on economic activity will be marginal,” wrote Julian Evans-Pritchard, senior China economist for Capital Economics, …

China interest rates cut to help companies as economy slows
5 years, 4 months ago

China interest rates cut to help companies as economy slows

CNN  

Hong Kong CNN Business — Central banks around in the world are cutting interest rates tohead off recession. The central bank is graduallyreplacing its existing fixed benchmark lending rate,with a new Loan Prime Rate, starting Tuesday. “China’s new Loan Prime Rate amounts to a rate cut,” Pantheon Macroeconomics said in a research note Monday. Joining the ‘easing camp’ Ken Cheung …

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