News Snapshot:
Economist at UOB Group Ho Woei Chen, CFA, reviews the leatest decision by the PBoC to reduce the policy rates. Key Takeaways “The People’s Bank of China ( PBOC ) set the benchmark 1Y Loan Prime Rate ( LPR ) lower by 10 bps to 3.70% and the 5Y LPR by a smaller quantum of 5 bps to 4.60% today. This was the second consecutive cut to the 1Y LPR following a 5 bps reduction in Dec. For the 5Y LPR , this was the first cut since May 2020 as it was kept unchanged in Dec.” “The cut to...
