Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
New articles
New article comments
Latest activity
Earn Money
Money apps
Passive Income
Paid Survey
Forex
Stock
Real estate
Paid to write
Social Media Earning
Review Website/Apps
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Retirement
Personal loan
Savings for Students
Debt help
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Make Money Online
Forex
Forex News from InstaForex
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="InstaForex Gertrude, post: 13169, member: 2617"] [B]China Cuts Benchmark Lending Rates[/B] [IMG type="full"]https://forex-images.ifxdb.com/analysts/big_preview/china/6.jpg[/IMG] China's central bank on Monday reduced its benchmark lending rates, as widely expected, as the economy contracted for the first time at least since 1992 amid coronavirus outbreak. The one-year loan prime rate was lowered by 20 basis points to 3.85 percent and the five-year loan prime rate was cut by 10 basis points to 4.65 percent. The loan prime rate is fixed monthly based on the submission of 18 banks, though Beijing has influence over the rate-setting. This new lending rate replaced the central bank's traditional benchmark lending rate in August 2019. The People's Bank of China last week reduced its one-year medium-term lending facility, or MLF, rate to 2.95 percent from 3.15 percent and injected CNY 100 billion through the MLF operation. In March, the PBoC had reduced the reserve requirement ratio for qualified banks and the reverse repo rate. September should mark the point when the PBoC hits the "ultra-low" interest rate level, Iris Pang, an ING economist said. After that, the PBoC may need to rely more on reserve requirement ratio cuts than rate cuts. The PBoC may use RRR cuts more than rate cuts before September to delay its policy rates touching ultra-low levels, the economist noted. The economy shrank 6.8 percent on a yearly basis in the first quarter, which was the first decline since the nation began reporting quarterly data in 1992. The economy had expanded 6 percent in the fourth quarter of 2019. [I][URL="https://www.instaforex.com/forex-news"]News are provided by [B][COLOR=Red]Insta[/COLOR]Forex[/B].[/URL][/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Make Money Online
Forex
Forex News from InstaForex
Top