PBOC loan prime rate monthly setting coming up - rate cut expected

I posted a preview of the People's Bank of China loan prime rate setting here earlier:

• Hopes are up (again) for rates down today from the People's Bank of China

The rate setting is coming up at 0115 GMT, that is, in just a few minutes time.

China's state-sponsored national financial newspaper the Securities Times leads today with a front-page opinion piece saying the People's Bank of China is expected to cut the LPR rates today.

This is despite the MLF rate remaining unchanged in May. Analysts that expect a cut base their hopes on falling banks' funding costs and also PBOC assurances of more supportive policy to come.

Stay tuned!