China's central bank partially rolled over loans from its one-year liquidit...
SHANGHAI - China’s central bank partially rolled over loans from its one-year liquidity facility on Tuesday but kept the lending rate unchanged, a sign it is willing to maintain adequate credit to support a slowing economy but wary of excessive stimulus.While analysts considered it a measured move, many still expect the People’s Bank of China to step up stimulus this week by guiding benchmark rates for new loans lower on Friday as central banks globally rush to loosen monetary policy.
The PBOC kept the one-year MLF rate unchanged, at 3.3%, reflecting an inclination to avoid loosening monetary policies too much, despite China’s growing economic pressures. While the PBOC kept the MLF rate unchanged, analysts expect the Loan Prime Rate , which was designated the reference rate for new loans last month, to be set lower at the monthly fixing on Friday. The MLF rate, seen as banks’ funding costs via the interbank market, is the reference banks use when setting LPRs, which are benchmarks for new loans. By reducing the MLF rate, PBOC can guide borrowing costs lower in the real economy.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China Mengniu makes move for infant formula co Bellamy's AustraliaChina Mengniu Dairy Co Ltd plans to buy infant formula maker Bellamy&...
Read more »
China aluminum output slips in August amid smelter outagesChina's primary aluminum output in August fell 0.5% from the previous month...
Read more »
Apple's cheaper iPhone 11 appears to be the most popular model pre-ordered in ChinaApple's own website shows delivery times for certain iPhone 11 models as late as October 15, several weeks after the September 20 launch date.
Read more »
China Box Office: ‘Jade Dynasty’ in Front Ahead of Mixed CompetitionWith “Jade Dynasty” in front, Chinese-made action and Asian animation films led the way at the China box office over the past weekend. Although a few American titles are in play, they&…
Read more »
Tencent jams pedal into battered China car marketThe tech giant and others have made a roughly $1.2 bln offer for comparison site Bitauto. That will in turn mean bidding for online retailer Yixin, which the target part-owns. It’s a cheap bet that may bring benefits in payments; acceleration will still require an auto recovery.
Read more »
Solomon Islands votes to cut ties with Taiwan amid China tension: official mediaThe Solomon Islands' government has voted to cut official ties with Taiwan,...
Read more »