The People’s Bank of China (PBOC) established the Financial Technology Committee.
Zhang Peng | lightrocket | Getty Images
China keeps it The interest rates for major loans remain unchangedas Beijing prioritizes financial stability over lower interest rates to strengthen its economy.
The People’s Bank of China’s loan quality interest rate remains at 3.1%, while the 5-year LPR is 3.6%.
Benchmark loan ratio – Usually charged to the bank’s best customers – Monthly calculations are made based on the proposed rates submitted to PBOC by the designated commercial bank. A one-year LPR affects corporate loans and most household loans in China, while a five-year LPR is the benchmark for mortgage interest rates.
Thursday’s decision meets expectations Reuters poll estimates.
PBOC Governor Pan Gongsheng Said at a meeting in Saudi Arabia on Sunday A stable RMB is crucial to maintaining global financial and economic stability. He added that although many currencies have violated the stronger dollar, the yuan remains basically stable.
The Chinese yuan has fallen against the greenback rate by 2.5% since Donald Trump’s election victory in November.
Pan also pointed out that China is More and more priority is given to consumption Reaffirming Beijing’s commitment to adopting proactive fiscal and adaptive monetary policy this year.
PBOC has Try to defend the RMB as it faces downward pressure The task of stimulating the economy to stumble in amid the threat of higher tariffs has complicated the task of stimulating it.
Strategy to defend the RMB will risk economic risks, as weaker RMB may help keep China’s exports competitive abroad, while stronger currencies make import prices higher when consumer demand is already fragile .
US President Donald Trump has been the first to do so since his inauguration last month A 10% tariff is imposed on all imports From China, except for the existing tariffs, the tariffs are as high as 25%.
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