PBOC keeps one-year, five-year LPR rates unchanged – Crypto News – Crypto News
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PBOC keeps one-year, five-year LPR rates unchanged PBOC keeps one-year, five-year LPR rates unchanged

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PBOC keeps one-year, five-year LPR rates unchanged – Crypto News

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People’s Bank of China (PBOC) holds its benchmark monetary policies The rates, namely the Loan Prime Rates (LPR), were unchanged during Monday’s announcement.

Given the status quo from the Chinese central bank, the latest PBOC LPRs for one-year and five-year are 3.65% and 4.30%.

It’s worth noting that the PBOC’s inaction was highly anticipated after the Chinese central bank left the Medium-term Lending Facility (MLF) rate for one-year unchanged at 2.75% during mid-May.

Also read: PBOC sets USD/CNY reference rate at 7.0157 vs. 7.0356 last

USD/CNY remains sidelined

Following the PBOC inaction, the USD/CNY price remains sidelined near 7.0080, after reversing from the highest levels since December 2022 the previous day.

About PBOC Interest Rate Decision

The PBoC Interest Rate Decision is announced by the People’s Bank of China, If the PBoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CNY. Likewise, if the PBoC has a dovish view on the Chinese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.

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