【holiday village resort bangalore】China cuts benchmark lending rate LPR
BEIJING,holiday village resort bangalore July 22 (Xinhua) -- China on Monday cut the market-based benchmark lending rate, in line with market expectations as authorities stepped up monetary support to shore up the economy.
The one-year loan prime rate (LPR) came in at 3.35 percent Monday, down from the previous reading of 3.45 percent, according to the National Interbank Funding Center.
The over-five-year LPR, on which many lenders base their mortgage rates, was lowered by 10 basis points to 3.85 percent.
The monthly-released data is a pricing reference rate for banks and is based on rates of the People's Bank of China (PBOC)'s open market operations.
To better manage expectations and connect the LPR release time with the market operations, the PBOC also announced to change the time of its monthly release of the rates to 9 a.m. from 9:15 a.m. roughly on 20th of each month.
The adjustment takes effect on Monday, the PBOC said.
Earlier on Monday, the central bank lowered the interest rate on seven-day reverse repos, a key short-term policy rate, from 1.8 percent to 1.7 percent, amid efforts to strengthen counter-cyclical adjustments to better support the real economy.
The PBOC conducted 58.2 billion yuan (about 8.16 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.7 percent. The operation was to keep liquidity reasonable and ample in the banking system, it said.
Editor: Zhang Zhou(责任编辑:娱乐)
- ·Original Lobster Festival held in U.S.
- ·足坛黄金一代告别!珍惜梅西C罗的最后一届世界杯
- ·烂柯杯半决赛:辜梓豪VS井山裕太 丁浩VS申真谞
- ·冯珊珊成为女子中巡推广大使:愿帮青少年规划生涯
- ·Celebrations held in Moscow to mark Moscow City Day
- ·同组球队也慨叹死亡之组 沙特媒体担忧对国足失分
- ·意大利本届欧洲杯已丢5球 上届夺冠才丢了4球
- ·铁腕与怀柔并用!这样的滕哈赫C罗是斗不过的
- ·Over 300 cultural relic sites newly found in China's Xizang
- ·欧洲杯淘汰赛前瞻:超级死亡半区 英意暗流汹涌
- ·View of Karst landscape in Guilin, S China
- ·意大利公开赛次轮韦伯领先 中国三将全部遗憾出局
- ·赔率前瞻:意大利盼复仇瑞士 数据示1
- ·足坛黄金一代告别!珍惜梅西C罗的最后一届世界杯
- ·Harris, Trump face off for 1st time in 2024 U.S. presidential debate
- ·同组球队也慨叹死亡之组 沙特媒体担忧对国足失分
- ·沪媒:别急着看衰 机会依然有 国足签位有玄机
- ·精选大乐透专家:曾祥远等三大专家同中二等50万
- ·Tea exchange nurtures blossoming China
- ·烂柯杯半决赛:辜梓豪VS井山裕太 丁浩VS申真谞