News Snapshot:
The People’s Bank of China set their one- and five-year loan prime rates today. Despite there not having been an [ForexLive Asia FX information wrap: Currencies (yen excluded) submit features towards the USD – ForexLive] The People’s Bank of China set their one- and five-year loan prime rates today. Despite there not having been any change to the Medium-term Lending Facility (MLF) rate this month the Bank cut the 5-year from 4.6% to 4.45%, leaving the 1-year unchanged at 3.7%. The 5-year LPR is the reference rate used for home mortgages in China. Lowering it is a policy move from...
