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I posted on this Monday, so this is a bit of a repeat heads up. ICYMI:
The People’s Bank of China will be issuing a one-year Medium-Term Lending Facility (MLF) this week, some time in the 13th to 16th window.
I suspect the rate will remain unchanged at 2.85% but a cut is not out of the question. The PBOC has tended to lean towards more targetted measures (especially towards smaller firms and those sectors hit hardest by COVID restrictions.
On the 20th of this month we will get the regular loan prime rate (LPR) setting. There was a minor cut last month:
The cut to the 5 year was aimed at giving a boost to the property sector, mortgage rates are set with an eye to the 5 year prime rate.
The PBOC is marching to the beat of its own drum, easing while everyone else is hiking (except the BOJ, of course, holding:
)
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