People’s Bank of China will be setting interest rates this week and next

The People’s Bank of China will set Loan Prime Rates (LPRs) on Friday September 20:

  • these benchmark lending rates remained unchanged in August
  • one-year loan prime rate stayed at 3.35%
  • the five-year rate was maintained at 3.85%

In July China’s central bank confirmed several reforms to its interest rate framework, shifting from using the previous LPR precursor to shorter-term seven-day reverse repurchase agreements. Previously, banks were instructed to set their LPR based on the interest rates from the PBOC’s medium-term lending facility.

The PBOC will conduct the MLF loan rollover on
September 25.

This article was written by Eamonn Sheridan at www.forexlive.com. Source