China - PBOC to announce new reference rate for bank loans, to lower borrowing costs to firms

Author: Eamonn Sheridan | Category: Central Banks

The People's Bank of China is to central bank begin releasing a new reference rate for bank loans

  • Should see lower rates for business borrowing
  • of benefit to SMEs especially
People's Bank of China will announce the new loan prime rate, or LPR, at 9:30am on the 20th of every month
  • starting this week!
  • commercial lenders will be required to set the price for new loans to businesses and households mainly with reference to the LPR
  • price for outstanding loans can stay unchanged for now

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