People's Bank of China Loan Prime Rate policy rate setting for June 2023. The first cut to LPRs for 10 months.

1-year cut by 10bp to 3.55%

  • prior 3.65%

& 5 year also getting a 10bp cut, to 4.20%

  • prior 4.30%

So, that's it for China rate cuts for now. Over to the fiscal folks for more stimulus. Markets were disappointed yesterday that the State Council meeting over the weekend didn't result in any boosts for the economy being announced. Not yet anyway.


Last week the People's Bank of China cut 3 policy rates:

And there was other stimulus, with more expected:

Analysts are wary, though, that stimulus will be too little:


PBOC's Loan Prime Rate (LPR)