The People’s Bank of China will be cutting loan prime rates today, from earlier:
Last week we had rate cuts from the People’s Bank of China:
ING expect 15bps:
Goldman Sachs, too are 15bp cuts to the LPRs. Current LPR rates are:
- 3.55% for the one year
- 4.20% for the five year
Barclays is also at 15bp cuts.
If we get 15bp rate cuts the one year will move to 4.2%, a new low.
Earlier news from China:
The PBOC decision is due at 0115 GMT, which is 9.15 pm US Eastern time.