中国下调基准贷款利率25个基点以促进经济复苏
中国提振经济增长的战略举措导致基准贷款利率下调。中国人民银行周一宣布，将利率下调25个基点。中国央行行长周五在北京举行的一次论坛上暗示了政策变化。
中国央行中国人民银行（PBOC）已将基准贷款利率下调25个基点以促进经济复苏。央行宣布，五年期贷款报价利率（LPR）由3.85%下调至3.6%，一年期贷款报价利率由3.35%下调至3.1%。一年期LPR影响中国的企业贷款和大部分家庭贷款，而五年期LPR则是抵押贷款利率的基准。
央行行长暗示将出台更多经济增长政策
⚠️中国降低基准贷款利率25个基点
— ProblemSniper (@ProblemSniper) 2024 年 10 月 21 日
PBOC’s governor, Pan Gongsheng, had given hints on the policy change while speaking at the Annual Conference of Financial Street Forum 2024 held in Beijing on Friday. The governor had stated in the forum that the central bank would lower the benchmark lending rates by 20 to 25 basis points.
Shane Oliver, head of investment strategy and chief economist at AMP, said that the monetary stimulus of lowering loan prime rates is occurring on a significant basis in China. However, he mentioned that the policy alone is not enough to pull the country’s economy from the trenches and would require more fiscal stimulus.
Pan also made numerous pledges on economic policy changes aligning with the country’s overall plan to boost economic recovery and growth. The executive mentioned that the seven-day reverse purchase rates will be lowered by 20 basis points while the medium-term lending facility rate will be reduced by 30 basis points.
Pan also said the PBOC would lower the reserve requirement ratio for Chinese banking institutions, which is the amount of cash that banks need to have for liquidity provision, by 20 to 25 basis points. The policy change aims to save the ailing property sector and boost consumption in the country.
China’s PBOC lowers the reserve requirement ratio by 50 basis points
In September, the PBOC lowered the reserve requirement ratio by 50 basis points, among other policy changes that were inclined towards revamping the Chinese economy, which is currently the second largest economy worldwide. China also shaved its short and long-term rates in July.
China’s National Bureau of Statistics reported a 4.6% growth in the third-quarter GDP year-on-year. The growth slightly exceeded the expected figure of 4.5% by economists. Industrial production, retail sales, and other statistics released on Friday also beat experts’ expectations.
Recently, missed economic data expectations sparked concerns over China’s ability to grow by 5% this year. On October 12th, Finance Minister Lan Foan spoke during a news conference, promising significant government debt increases and support for property and consumer sectors. However, the press briefing left investors wanting, since the minister failed to mention any numerical details, despite being strong on determination.
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