The People's Bank of China is expected to see the USD/CNY reference rate today at 6.7445.
Also today is the monthly Loan Prime Rate (LPR) setting. One- and five-year LPRs:
- The 1-Year Loan Prime Rate is currently at 3.70%
- The 5-Year Loan Prime Rate is at 4.45%
No change is the consensus expectation today. Last Friday the PBOC rolled over a maturing one-year medium-term lending facility (MLF) at an unchanged rate of 2.85%. Changes to the MLF rate are a key indicator of changes to the rate on these lending benchmark loan prime rates (LPR).
