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Photo taken on January 21, 2024 shows a real estate project under construction in Huai 'an city, Jiangsu province, China. Asia-Pacific markets rebounded from Friday's sell-off as investors look to fresh data points out of China, Japan and South Korea this week. On Friday, markets in the region tumbled after Israel launched a strike at Iran, causing stocks to fall and safe-haven assets to climb. On Monday, investors will monitor China's one-year and five-year loan prime rates. The five-year LPR will be closely watched, as it acts as the peg for most property mortgages.

Persons: Huai Organizations: Israel Locations: Jiangsu province, China, Asia, Pacific, Japan, South Korea, Iran

☆ Andrey Morozov: Pro-Kremlin military blogger dead days after reporting massive Russian losses in Avdiivka
▼ + stars: | 2024-02-22 | by ( Vasco Cotovio | ) edition.cnn.com time to read: +3 min

CNN —A pro-Kremlin Russian military blogger, Andrey Morozov, has reportedly died just days after he reported that Russia had suffered massive losses during its assault on the Ukrainian town of Avdiivka. Morozov’s death comes after he reported that Russia was suffering massive losses during its assault of Avdiivka. CNN has seen evidence Russia suffered heavy casualties during the offensive on Avdiivka, but cannot verify the estimates published by Morozov. If he doesn’t remove it, we won’t provide supplies,” Morozov wrote. Pro-Russian military bloggers have enjoyed some freedom to criticize the Russian military and the way the Ministry of Defense was prosecuting the war in Ukraine.

Persons: Andrey Morozov, Mozorov, Maxim Pashkov, Morozov, “, ” Pashkov, ” Morozov, ”, Wagner, Yevgeny Prigozhin, Igor Girkin Organizations: CNN, Kremlin, Russian, Russian Ministry of Defense, Ministry of Defense Locations: Kremlin Russian, Russia, Avdiivka, Ukraine, Russian, Luhansk People’s Republic, Ukrainian, Luhansk, Moscow

☆ LPR: China makes biggest-ever cut to key mortgage rate to support housing market
▼ + stars: | 2024-02-20 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s central bank has cut its key mortgage reference rate by a record amount, as it ramps up efforts to stem a prolonged property crisis. The People’s Bank of China (PBOC) announced Tuesday that it would cut its five-year loan prime rate (LPR) from 4.2% to 3.95%, while keeping the one-year LPR unchanged at 3.45%. The 25 basis point cut to the five-year LPR is the biggest reduction the central bank has made since it revamped its LPR system in 2019. The latest cut was also the first reduction to the five-year LPR since June 2023. “Today’s 25 (basis point) cut to the five-year LPR is clearly aimed at supporting the housing market,” analysts from Capital Economics said in a note on Tuesday.

Persons: “, ” Organizations: Hong Kong CNN, People’s Bank of China, Capital Economics, Zhongrong Trust, State Administration of Foreign Exchange Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen

CNN —Two American citizens were detained by the Israel Defense Forces during a raid of a home in Gaza early Thursday morning local time, according to a family member in the United States. Hashem Alagha, 20, and Borak Alagha, 18, were among a group of roughly 20 men detained by IDF soldiers during the incident, according to Yasmeen Elagha, who identified herself as their cousin. She said both men are American citizens, born in the suburbs of Chicago and raised there in their early childhood. The US is aware of reports that the Israeli military has detained two American citizens in Gaza, according to a State Department spokesperson. Patel said they believe “the vast majority” of US citizens seeking to leave Gaza have reached out to the State Department.

Persons: Hashem Alagha, Borak Alagha, Yasmeen Elagha, Elagha, –, “, ”, Vedant Patel, Benjamin Netanyahu, Antony Blinken, Patel Organizations: CNN, Israel Defense Forces, IDF, State Department, Israel Locations: Gaza, United States, Chicago, Canadian, Rafah, Egypt

☆ China keeps lending benchmark rates unchanged, as expected
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. The one-year loan prime rate (LPR) was kept at 3.45% and the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The steady fixings came after the central bank kept its medium-term interbank liquidity rate unchanged last week. The LPR, which banks normally charge their best clients, is set by 18 designated commercial banks who submit proposed rates to the central bank every month.

Persons: Tingshu Wang, Julian Evans, Pritchard, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Capital Economics, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States, outflows

☆ China expected to keep key lending rates unchanged next week
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

A man wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, February 3, 2020. In a poll of 26 market watchers, all participants predicted both the one-year LPR and the five-year tenor would stay unchanged. "The changes in LPR are more affected by the MLF rate," Zhou said, expecting the LPR to stay unchanged this month. The PBOC on Wednesday injected 1.45 trillion yuan ($200.12 billion) worth of one-year MLF loans into the banking system but kept the rates on those loans unchanged. Expectations of steady LPR fixings also come as new bank lending in China fell less than expected in October from the previous month.

Persons: Jason Lee, Zhou Maohua, Zhou, Winni Zhou, Wu Fang, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, China Everbright Bank, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States, outflows, Shanghai, Singapore

Meanwhile, a blast in Russian-occupied territory in Luhansk, eastern Ukraine, killed a pro-Moscow official, with a Ukrainian intelligence agency taking credit for the assassination. The Black Sea frontUkrainian Defense Intelligence (GUR) claimed it hit two small Russian naval vessels in the Black Sea on Friday, its latest display of Ukraine’s ability to hit Russian targets in occupied Crimea. “Two Russian landing craft have been hit with Ukrainian sea drones near Chernomorske, Crimea,” Andriy Yusov, a representative of GUR, said in comments to CNN. Ukraine Defence Intelligence released grainy, grayscale video showing what it claims is the moment of its srikes on Russian navy vessels in the Black sea. Kyiv has also focused on breaking Russia’s dominance in Ukraine’s territorial Black Sea waters.

Persons: GUR, ” Andriy Yusov, Vlada, Oleksandr Tarnavskyi, Mikhail Filiponenko, Igor Kornet, Ursula von der Leyen, John Thys, Volodymyr Zelensky, ”, Ursula von der, “ Organizations: CNN, Moscow, Ukrainian Defense Intelligence, CNN . Defence Intelligence, Ukraine Defence Intelligence, Ukrainian Ministry of Defense CNN, Liberian, Operational Command, UN, Police, Getty, Tavria, Forces, Ukraine’s Defense Intelligence, People’s Militia, Luhansk People’s, Defense Intelligence, Russian, European Union, EU, NATO Locations: Ukraine, Russia, Ukraine’s, Crimea, Luhansk, Ukrainian, “, Chernomorske, ”, Russian, Kyiv, Moscow, Odesa, Avdiivka, Donetsk, Luhansk People’s Republic, AFP, Europe

☆ Ukraine says it killed Kremlin-backed politician in car bombing in occupied Luhansk
▼ + stars: | 2023-11-08 | by ( Christian Edwards | Gul Tuysuz | ) edition.cnn.com time to read: +3 min

Kyiv CNN —Ukraine said it was responsible for the assassination of a Russia-backed official with a car bomb in the occupied eastern city of Luhansk on Wednesday. Both Ukrainian and Russian authorities reported Filiponenko had been killed in a car bombing early Wednesday morning. Ukraine’s Defense Intelligence posted Filiponenko’s address and warned others: “All addresses of traitors and places of their service to terrorist Russia in the temporarily occupied territories of Ukraine are known! Defense Intelligence of Ukraine states that all war criminals and collaborators will receive a fair retribution!”There have been several assassination attempts against Russian-backed officials in occupied Ukraine. Kherson and Zaporizhzhia, in the south of Ukraine, have been occupied by Russian forces since shortly after the full-scale invasion began in 2022.

Persons: Mikhail Filiponenko, Filiponenko, Russia ”, ”, Russian Liberal Democratic Party Filiponenko Mikhail Yuryevich, ” Filiponenko, “ Filiponenko, Stanislav Krasilnikov, LPR, Igor Kornet, Zaporizhzhia, Vladimir Putin’s Organizations: CNN —, Ukraine’s Defense Intelligence, Russia’s, Russian Liberal Democratic Party, Defense Intelligence, Russian, CNN Locations: CNN — Ukraine, Russia, Luhansk, Luhansk People’s Republic, Russian, Kherson, Ukraine, Donetsk, Zaporizhzhia, Moscow, Vladimir Putin’s United Russia

☆ China leaves benchmark lending rates unchanged as expected
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsSHANGHAI/SINGAPORE, Oct 20 (Reuters) - China kept its benchmark lending rates unchanged at the monthly fixing on Friday, matching market expectations, as a set of economic data suggested the economy is stabilising and a weaker yuan constrained further monetary easing. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Persons: Jason Lee, Li Gu, Tom Westbrook, Edmund Klamann, Jacqueline Wong Organizations: People's Bank of China, REUTERS, Rights, TD Securities, Barclays, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE

But when excluding both fresh food and fuel prices, inflation was 4.2%, still close to the 40-year peak of 4.3% recorded earlier this year. As the reference point for much of the financial world, the 10-year yield helps set prices for all kinds of investments and loans. The yield on the 10-year Treasury touched 4.99%, up from 4.91% late Wednesday, before paring its gain to 4.98%. Early Friday, the 10-year Treasury yield was 4.94%. A higher 10-year yield makes mortgages more expensive, knocks down prices for investments and makes it costlier for companies to borrow and grow.

Persons: Biden, ” Fatih Birol, Hong, Australia’s, India’s Sensex, Tesla, Jerome Powell, That’s, It’s, Brent Organizations: Treasury, ., Department of Energy, Strategic Petroleum Reserve, ”, Associated Press, Nikkei, China, Dow Jones, Nasdaq, Big Tech, Netflix, New York Mercantile Exchange, U.S Locations: HONG KONG, Paris, Shanghai, Seoul

☆ China keeps benchmark rates unchanged as economy finds footing
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. Despite the steady LPR, some market watchers said recent property easing measures suggest cuts to the five-year LPR and more policy stimulus are likely in coming months. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Persons: Tingshu Wang, Xing Zhaopeng, Xing, Wang Tao, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, ANZ, UBS, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States

☆ China leaves benchmark lending rates unchanged, as expected
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSHANGHAI/SINGAPORE, Sept 20 (Reuters) - China kept benchmark lending rates unchanged at a monthly fixing on Wednesday, matching market expectations, as fresh signs of economic stabilisation and a weakening yuan reduced the need for immediate monetary easing. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. In a Reuters survey of 29 market analysts and traders, all participants predicted no change to the one-year LPR, while a vast majority of them also expected the five-year rate to remain steady. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Persons: Tingshu Wang, Xing Zhaopeng, Xing, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, ANZ, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE

☆ China's central bank vows to support demand, price rebound
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +3 min

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - China's central bank will boost demand and support a modest rebound in prices, the Financial News, a publication run by the People's Bank of China (PBOC) said on Wednesday, citing a unnamed senior central bank official. The central bank "will create an appropriate monetary and financial environment to promote effective demand in the real economy, support a moderate recovery in prices and enhance economic vitality," the official said. New bank loans beat expectations by nearly quadrupling in August from July, as the central bank sought to shore up economic growth amid soft demand at home and abroad. The central bank last cut the reserve requirement ratio (RRR) - the amount of cash that banks must hold as reserves - in March.

Persons: Jason Lee, Zhou Maohua, Kevin Yao, Liangping Gao, Tom Hogue, Sam Holmes, Miral Organizations: People's Bank of China, REUTERS, Rights, Financial, China Everbright Bank, Officials, Beijing Newsroom, Thomson Locations: Beijing, China, Rights BEIJING

☆ Factbox: China's measures to shore up a faltering economy, more support expected
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

- China stepped up measures to boost the country's faltering economy, with top banks paving the way for further cuts in lending rates. Aug. 25 -China's cabinet on Friday approved guidelines for planning and construction of affordable housing at a meeting chaired by Premier Li Qiang. July 24- China's top leaders, at a Politburo meeting, pledged to step up support for the economy, signalling more stimulus steps. July 24 - China's state planner unveiled measures to support private investment in some infrastructure sectors and said it will strengthen financing support for private projects. July 14 - China's cabinet approved guidelines for improving the building of public infrastructure in megacities, to help support the economy and cope with future public health crises.

Persons: Premier Li Qiang, Kevin Yao, Shri Navaratnam Organizations: Premier, Communist Party, Thomson Locations: BEIJING, China, megacities

☆ China relaxes mortgage rules to help homebuyers in latest stimulus push
▼ + stars: | 2023-09-01 | by ( Laura He | ) edition.cnn.com time to read: +2 min

That’s a big cut from the existing requirements of minimums of 30% and 40% for first-time and second-time buyers in cities that implement home-buying restrictions, such as Beijing and Shanghai. In addition, minimum mortgage rates for buyers of second homes should be no less than 20 basis points over the loan prime rate (LPR), the statement said. Currently, minimum mortgage rates for second-time buyers are no less than 60 basis points over the LPR. The LPR is the benchmark for most household and corporate loans in China and is set by the central bank each month. “For banks, it can effectively reduce the phenomenon of early loan repayment and mitigate the impact on banks’ interest income,” they added.

Persons: That’s Organizations: Hong Kong CNN, People’s Bank of China, National Administration of Financial Locations: Hong Kong, China, Beijing, Shanghai

REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSHANGHAI/SINGAPORE, Aug 25 (Reuters) - China's banks will cut deposit rates soon as part of efforts to make mortgages more affordable and revive property demand, analysts reading China's cryptic policy messages reckon. But China did not opt for a broad rate cut that would further depress banks' narrow net interest margins, instead deferring to banks to cut their deposit rates and give themselves room to cheapen mortgages, analysts said. Lowering deposit rates will give banks much needed wiggle room to cut mortgage rates. "Further reductions to the deposit rates are 'arrows on the string,'" said Wang Yifeng, banking analyst at Everbright Securities. He also expects a tweak to rules so that existing mortgage rates can be reset lower.

Persons: Tingshu Wang, Wang Yifeng, Zhu Qibing, LPR, Zhu, Lu Ting, Lu, Xing Zhaopeng, Xing, Winni Zhou, Tom Westbrook, Samuel Shen, Vidya Ranganathan, Jacqueline Wong Organizations: China Securities Regulatory Commission, REUTERS, Rights, Bankers, Everbright Securities, People's Bank of China, BOC International China, Nomura, ANZ, Thomson Locations: China, Beijing, Rights SHANGHAI, SINGAPORE, Shanghai, Singapore

☆ China surprises with modest rate cut amid growing yuan risks
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +4 min

The one-year loan prime rate (LPR) was lowered by 10 basis points to 3.45% from 3.55% previously, while the five-year LPR was left at 4.20%. The 10 bp cut in the one-year rate was smaller than the 15 bp cut expected by most poll respondents. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The reduction in the one-year LPR came after the People's Bank of China (PBOC) unexpectedly lowered its medium-term policy rate last week. Cheung added that the unexpected rate outcome should be "negative to China growth outlook and the yuan exchange rate".

Persons: Tingshu Wang, LPR, Masayuki Kichikawa, Ken Cheung, Cheung, Winni Zhou, Tom Westbrook, Kevin Buckland, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Sumitomo Mitsui DS Asset Management, Mizuho Bank, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, Shanghai

☆ China's central bank trims 1-year rate, but unexpectedly leaves 5-year rate unchanged
▼ + stars: | 2023-08-21 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

China's central bank cut its one-year loan prime rate Monday, while leaving its five-year rate unchanged. This was the second time China has cut this rate in three months. The PBOC left its five-year loan prime rate — the peg for most mortgages — unchanged at 4.2%, while economists expected a 15 basis point cut due to default risks from festering liquidity woes in the country's property sector. Country Garden is on the verge of default, while Evergrande filed last week for bankruptcy protection in a Manhattan court. "Hopes for a stimulus-led turnaround in economic activity largely depend on the prospect of greater fiscal support," he added.

Persons: Evergrande, China Julian Evans, Pritchard Organizations: People's Bank of China, Index, China Enterprises, CSI Locations: China, Manhattan, Hong Kong

☆ Asia markets poised for mixed open ahead of China's loan prime rate announcement
▼ + stars: | 2023-08-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets are set to fall ahead of China's announcement for its one-year and five-year loan prime rates on Monday. The one-year and five-year LPR currently stands at 3.55% and 4.2% respectively. Reuters reported that in a poll of 35 market watchers, all participants predicted cuts to both rates, after China's central bank unexpectedly lowered the medium-term lending facility rate last week. Futures for Hong Kong's Hang Seng index stood at 17,794, pointing to a weaker open compared with its Friday close of 17,950.85. In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,070 compared with its last close of 7,148.1.

Persons: LPR Organizations: Reuters, Nikkei Locations: Asia, Pacific, Australia, Chicago, Osaka

☆ China surprises with rate cuts as economy grapples with 'confidence crisis'
▼ + stars: | 2023-08-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +4 min

Str | Afp | Getty ImagesChina's central bank unexpectedly cut rates on Tuesday, as policymakers continued to ramp up support for its struggling economy. It was the second rate cut in three months. China is facing a "confidence crisis" as Beijing's policy delay is being perceived as "inaction" to spur growth, according to an economist. "In a crisis such as this … you can't really call it a consumption crisis or investment crisis. In addition to the rate cut on Tuesday, the central bank also injected 204 billion yuan through seven-day reverse repos, cutting borrowing costs by 10 basis points to 1.80% from 1.90%.

Persons: we've, Louise Loo, CNBC's, Loo, they've, 15bps, Goldman Sachs, Hao Zhou Organizations: Afp, Getty, People's Bank of China, Oxford Economics, Guotai Locations: China

☆ China central bank cuts rates for second time in three months to support economy
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: +3 min

A citizen walks past the Hangzhou Central branch of the People's Bank of China in Hangzhou, east China's Zhejiang province, June 13, 2023. China's central bank unexpectedly cut key policy rates for the second time in three months on Tuesday, in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery. Analysts said the move opened the door to a potential cut in China's lending benchmark loan prime rate (LPR) next week. In a Reuters poll of 26 market watchers conducted this week, 20 participants, or 77%, predicted that the central bank would leave the MLF rate unchanged. The PBOC lowered key policy rates in June to prop up the broad economy, but data has been increasingly weak since.

Persons: Tommy Wu, Ken Cheung Organizations: People's Bank of China, Mizuho Bank Locations: Hangzhou Central, Hangzhou, Zhejiang province, China's, China, United States

☆ China central bank unexpectedly cuts rates to support sputtering economy
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File PhotoSHANGHAI/SINGAPORE, Aug 15 (Reuters) - China's central bank unexpectedly cut key policy rates for the second time in three months on Tuesday, in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery. Analysts said the move opened the door to a potential cut in China's lending benchmark loan prime rate (LPR) next week. In a Reuters poll of 26 market watchers conducted this week, 20 participants, or 77%, predicted that the central bank would leave the MLF rate unchanged. The PBOC lowered key policy rates in June to prop up the broad economy, but data has been increasingly weak since.

Persons: Tingshu Wang, Tommy Wu, Ken Cheung, Winni Zhou, Rae Wee, Kim Coghill, Jamie Freed Organizations: People's Bank of China, REUTERS, Mizuho Bank, Thomson Locations: Beijing, China, SHANGHAI, SINGAPORE, United States

☆ Morning Bid: China data disappoints as markets yearn for stimulus
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +3 min

Data on Tuesday showed China's industrial output and retail sales growth slowed in July, adding to concerns about a faltering post-pandemic recovery in the world's second-biggest economy. China's major state-owned banks stepped into the spot market to steady the currency, according to sources. Chinese policymakers last month released a batch of stimulus measures, including boosting auto and home appliances consumption, relaxing some property restrictions, and pledging support to the private sector. Over in Australia, wage growth held steady in the June quarter while the pace of annual pay awards unexpectedly slowed. That, along with the release of dovish minutes from the central bank's July policy meeting, bolstered bets that the RBA would keep rates steady.

Persons: Ankur Banerjee, Warren Buffett's Berkshire Hathaway, DR, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, Ankur, Thomson Locations: Frankfurt, Silicon, Germany, Asia, China, Pacific, Japan, Australia, U.S, Berkshire, Sweden, Singapore

☆ China c.bank seen leaving policy loan rate unchanged on Tuesday
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File PhotoSHANGHAI/SINGAPORE, Aug 14 (Reuters) - China's central bank is expected to keep rates on its medium-term policy loans unchanged on Tuesday, a Reuters survey showed, despite fresh signs the economic recovery is losing momentum. The People's Bank of China (PBOC) last lowered the rate by 10 basis points to 2.65% in June. "We believe more pro-growth policies are warranted to support the economic growth, and further easing in monetary policy can be expected," analysts at BofA Global Research said. They expect a 15-basis-point cut in one-year loan prime rate (LPR) in total in the third quarter of the year.

Persons: Tingshu Wang, Li Hongwei, Zhou, Tom Westbrook, Jacqueline Wong Organizations: People's Bank of China, REUTERS, HSBC, BofA Global Research, July's, Thomson Locations: Beijing, China, SHANGHAI, SINGAPORE, United States, Shanghai, Singapore

☆ Sterling takes a beating, dollar gains ground
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: +3 min

U.S. dollar bills, British GDP and Euro currency bank notes are pictured on September 27, 2022 in Bath, England. Sterling was struggling to recover from a sharp fall on Thursday following U.K. inflation data that undershot market expectations, while the dollar regained its footing after a steep decline last week that analysts said was overblown. "The market I think is a bit more reasonable now with its expectations for rate hikes by the BoE. "We thought (the fall) was too strong, so it looks like the dollar has regained some of those losses," said Capurso. The Japanese yen rose 0.1% to 139.56 per dollar, while the Australian dollar was last 0.16% higher at $0.6782, ahead of the country's employment data later on Thursday.

Persons: Sterling, BoE, Joseph Capurso, Yannis Stournaras, Mel Siew Organizations: Bank of England, Traders, Commonwealth Bank of Australia, Central Bank, U.S, Muzinich Locations: Bath, England, Asia, China

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