trending Market Intelligence /marketintelligence/en/news-insights/trending/Nu95OIsW15SYmlc3S-nRjA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Chinese central bank leaves reference rate for new loans unchanged

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Chinese central bank leaves reference rate for new loans unchanged

The Chinese central bank left its new loan prime rates unchanged in a move that analysts say could probably heighten pressure on policymakers to ease further in the coming months.

The People's Bank of China left its one-year LPR unchanged at 4.20% and kept the five-year LPR at 4.85%. The move marks the first time that the central bank kept the rates unchanged since it introduced reforms to its LPR mechanism in August. Under the reforms, the central bank sets the new reference point for new loans every month based on submissions by 18 banks.

Today's decision to keep the LPR steady "suggests that monetary conditions have yet to be eased," according to Julian Evans-Pritchard, senior China economist, and Martin Lynge Rasmussen, China economist, at Capital Economics.

"[A]s cuts to the LPR only feed through to interest rates on new loans, not outstanding ones, the additional monetary easing that we think will materialize before long will probably not limit itself to targeting the LPR," the analysts said, adding that the PBoC could deliver a "more impactful" easing by cutting the lending rate for short-term liquidity needs.

The PBoC's decision comes after China's annual GDP growth slumped to its worst level in nearly three decades in the third quarter, reinforcing calls for further monetary policy easing.