There have been plenty of stimulus announcments from China last week:
- PBOC 1 year MLF rate cut to 2.65% (prior 2.75%), as widely expected
- ICYMI - People's Bank of China rate cut overnight (that's two rate cuts in one day)
- China cut the retail prices of gasoline and diesel from Wednesday, the 6th cut this year
And more are expected to come:
- China reportedly considering broad stimulus package to bolster economic support
- China has been holding 'urgent' meeting with business leaders on boosting growth
On Tuesday, 20 June 2023 we get the next policy move from the People's Bank of China, an expected cut to LPRs.
Currently LPR rates are:
- 3.65% for the one year
- 4.30% for the five year
ING are looking for cuts to both:
- Loan prime rates in China are set to track the recent cut from the People’s Bank of China (PBoC). Thus, we are looking for the 1Y loan prime rate to fall to 3.55% (from 3.65%) and the 5Y loan prime rate to settle at 4.2%.
People's Bank of China Governor Yi Gang
