China's five-year or more market** interest rate (LPR) was cut by 25 basis points, higher than expected.
According to the People's Bank of China official *** People's Bank of China authorized the National Interbank Funding Center announced on Tuesday (February 20) that the one-year loan market ** interest rate (LPR) is 345%, compared to the previous month (345%); The LPR for more than five years is 395%, down 025%。
Of the 27 market watchers surveyed by Reuters this week, 25 of them** LPR with more than five years will be lowered, with declines ranging from 5 to 15 basis points. The last time China cut its LPR for more than five years was in June last year, when it fell by 10 basis points.
According to Wall Street News, the LPR with a maturity of more than five years is the main reference benchmark for the pricing of medium and long-term corporate loans and personal housing loans, and a 25 basis point reduction in the LPR for more than five years will help stabilize confidence, promote investment and consumption, and also help support the stable and healthy development of the real estate market.
For the LPR downside, market expectations are generally unanimous, and the head of the Central Bank of China has also previously issued a document saying that the industry expects the LPR to decline reasonably and moderately, and the financial concessions to entities will increase, and the LPR with a term of more than five years is more likely to decline.