Reuters poll shows the PBOC is likely to lower benchmark lending rates (LPR) today

Reuters polling shows (28 traders and analysts surveyed):

• 11, or 39% of all respondents, predicted a marginal cut of 5 basis points (bps) to both the one-year loan prime rate (LPR) and the five-year rate
• Another six participants also expect a reduction to either rates within a range of 5 to 10 bps
• The remaining 11 respondents expected both rates to remain unchanged this month.

The LPR setting is due at 0130 GMT, although it has been earlier.

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Earlier posts:

• Here is what’s on the economic calendar in Asia today - PBOC rate setting day

Last week the PBOC rolled over a medium-term lending facility (MLF) at an unchanged rate.

• PBOC kept its key MLF policy interest rate unchanged on Friday

• Goldman Sachs says a PBOC rate cut on Wednesday is unlikely

The Bank, though, has made a small cut to the reserve requirement ratio (RRR):

• 25-basis-point cut to banks' reserve requirement ratio

People's Bank of China Governor Yi Gang: