“,”elementId”:”22e82468-e5fb-44ae-be21-2bd73e90d338″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Banks in China have cut borrotriumphg costs in the procrastinateedst try to stimuluate growth apass the Chinese economy.
“,”elementId”:”183d847b-28c2-43dd-aebb-26530dd180c2″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
The People’s Bank of China (PBoC) has proclaimd today that its two benchlabel lfinishing rates are being cut, by a quarter of one percent.
“,”elementId”:”d24af262-6834-4883-91b9-96ff3da3b084″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
China’s one-year loan prime rate – a reference for loans to businesses and devourrs – has descfinishen to 3.1% from 3.35%.
“,”elementId”:”c4a3133a-1cb0-4c63-81cd-d449d9419c32″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
The five-year LPR – the benchlabel for mortgages – has been cut from 3.85% to 3.6%.
“,”elementId”:”bec390c3-fd02-4bdd-888b-a7db6b1a3154″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
The LPR rates are set by a group of China’s presentant banks, and today’s reductions show they are passing on last month’s interest rate cut from the PBOC.
“,”elementId”:”bc922577-a7f3-4b83-bebd-48f0c5760eef”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Becky Liu, head of China macro strategy at Standard Chartered says:
“,”elementId”:”39840aef-06f5-4d74-aa96-3fc27e392d17″},{“_type”:”model.dotcomrfinishering.pageElements.BlockquoteBlockElement”,”html”:”
n
“The bigr cuts examine the PBOC’s stance of easing monetary policy more speedyly, and echo the Politburo’s statement of cutting rates more forcebrimmingy.”
n
“,”elementId”:”7ceb5370-af9a-4e4f-adb0-9b8c2e8881c2″},{“_type”:”model.dotcomrfinishering.pageElements.TweetBlockElement”,”source”:”Twitter”,”id”:”1848216936653410369″,”elementId”:”8e037954-8dba-4781-a341-f2f3434af0b1″,”hasMedia”:counterfeit,”role”:”inline”,”url”:”https://twitter.com/BigBreakingWire/status/1848216936653410369″,”isThirdPartyTracking”:counterfeit,”html”:”
🚨 China decreased its one-year loan prime rate from 3.35% to 3.10% and the five-year LPR from 3.85% to 3.60%, follotriumphg the central bank's procrastinateed September interest rate cuts, aiming to revive economic growth and steady the housing labelet. pic.twitter.com/8oKsFM9zKW
— BigBreakingWire (@BigBreakingWire) October 21, 2024
“},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Some stocks rallied after the cuts were proclaimd, with the Shenzhen SE Composite index geting around 1.4% today.
“,”elementId”:”ecca03f2-147d-40da-ada9-a90de1aeefb0″},{“_type”:”model.dotcomrfinishering.pageElements.TweetBlockElement”,”source”:”Twitter”,”id”:”1848192125680128281″,”elementId”:”f42830e2-bbd7-42f4-9c09-46c30bde1232″,”hasMedia”:counterfeit,”role”:”inline”,”url”:”https://twitter.com/tEconomics/status/1848192125680128281″,”isThirdPartyTracking”:counterfeit,”html”:”
China Stocks Extfinish Gains as PBOC Cuts LPR
The Shanghai Composite rose 0.2% to around 3,270 while the Shenzhen Component jumped 1.3% to 10,490 on Monday, extfinishing gets from the previous session after the People’s Ban…
More here: https://t.co/NQnnRvWDqr pic.twitter.com/4nbD6Zlw7d
— TRADING ECONOMICS (@tEconomics) October 21, 2024
“},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Stephen Innes, managing partner at SPI Asset Management, says:
“,”elementId”:”d771357a-47c4-4efc-9195-9e3b1dd1194d”},{“_type”:”model.dotcomrfinishering.pageElements.BlockquoteBlockElement”,”html”:”
n
Sure, the rate cut wasn’t a shocker, but the labelet is banking on the idea that the combined impact of all these recent meacertains could at least stem the economic bleeding.
n
However, the truth seems to be that the Chinese Communist Party is hopelessly trying to harness the wealth effect from local equities to carry on morale high. It’s a classic case of “hope floats” until the actual economic recovery initiates in—whenever that might be. Just see at Friday when Xi Jinping sent PBoC Governor Pan Gongsheng to pump some life into the labelets with a pep talk, and guess what? It toiled.
n
Mainland and Hong Kong-cataloged stocks sadvised, the benevolent of response Beijing was banking on.
n
“,”elementId”:”52d38c79-a549-40b4-b0b5-5bac582cfabb”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
It’s the procrastinateedst in a flurry of try to stimuprocrastinateed the world’s second-bigst economy, after growth cataloglessed to an 18-month low last week. Last month, China proclaimd expansive-ranging meacertains including interest rate cuts and more fluidity for the banking system.
“,”elementId”:”1f021679-fb54-4af5-a787-8b787b6dafe8″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Beijing is trying a difficult balancing act – trying to revive growth while also carry outing structural reestablishs, and managing financial stability hazard.
“,”elementId”:”1a822e85-4ce3-4056-b6c3-fc5783022a79″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
China’s property sector remains in a slump, with sales down keenly this year despite efforts to increase sentiment.
“,”elementId”:”257ec79c-d4b0-4ec0-8886-4c540e201e85″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
And while cutting lfinishing rates may supply some help, it will be difficult unless Chinese devourrs experience brave enough to borrow – at a time where devourr confidence is cforfeit an all-time low….
“,”elementId”:”beb1017d-ff57-4acb-bf52-10f63a72af31″},{“_type”:”model.dotcomrfinishering.pageElements.SubheadingBlockElement”,”html”:”
The agfinisha
“,”elementId”:”7c1e18be-59ae-4db4-979e-e1fe9c4092ad”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
- n
- n
7am BST: German originater prices inflation alert for September
- n
3pm BST: The Conference Board’s guideing economic index for the US
n
n
“,”elementId”:”2349fc03-648b-4c55-a6e6-be705a626d81″}],”attributes”:{“pinned”:counterfeit,”keyEvent”:genuine,”summary”:counterfeit},”blockCreatedOn”:1729492748000,”blockCreatedOnDistake part”:”02.39 EDT”,”blockLastUpdated”:1729492670000,”blockLastUpdatedDistake part”:”02.37 EDT”,”blockFirstPublished”:1729492748000,”blockFirstPublishedDistake part”:”02.39 EDT”,”blockFirstPublishedDistake partNoTimezone”:”02.39″,”title”:”Introduction: China cuts lfinishing rates in procrastinateedst growth push”,”contributors”:[],”primaryDateLine”:”Mon 21 Oct 2024 02.46 EDT”,”secondaryDateLine”:”First published on Mon 21 Oct 2024 02.39 EDT”}],”filterKeyEvents”:counterfeit,”id”:”key-events-caroincludel-mobile”,”absoluteServerTimes”:counterfeit}”>
Key events
Prices of iron ore futures have elevaten, partly thanks to today’s lfinishing rate cuts in China.
The most-traded January iron ore condense on China’s Dalian Commodity Exalter geted 1.5% to trad at 770 yuan (£83) per metric tonne.
Iron ore gets on firm cforfeit-term need, more China rate cuts https://t.co/lwLuijJYlj pic.twitter.com/FapXqL56Ft
— Reuters (@Reuters) October 21, 2024
nn”}}”/>
Introduction: China cuts lfinishing rates in procrastinateedst growth push
Good morning, and greet to our rolling coverage of business, the financial labelets and the world economy.
Banks in China have cut borrotriumphg costs in the procrastinateedst try to stimuluate growth apass the Chinese economy.
The People’s Bank of China (PBoC) has proclaimd today that its two benchlabel lfinishing rates are being cut, by a quarter of one percent.
China’s one-year loan prime rate – a reference for loans to businesses and devourrs – has descfinishen to 3.1% from 3.35%.
The five-year LPR – the benchlabel for mortgages – has been cut from 3.85% to 3.6%.
The LPR rates are set by a group of China’s presentant banks, and today’s reductions show they are passing on last month’s interest rate cut from the PBOC.
Becky Liu, head of China macro strategy at Standard Chartered says:
“The bigr cuts examine the PBOC’s stance of easing monetary policy more speedyly, and echo the Politburo’s statement of cutting rates more forcebrimmingy.”
🚨 China decreased its one-year loan prime rate from 3.35% to 3.10% and the five-year LPR from 3.85% to 3.60%, follotriumphg the central bank's procrastinateed September interest rate cuts, aiming to revive economic growth and steady the housing labelet. pic.twitter.com/8oKsFM9zKW
— BigBreakingWire (@BigBreakingWire) October 21, 2024
“}}”>
🚨 China decreased its one-year loan prime rate from 3.35% to 3.10% and the five-year LPR from 3.85% to 3.60%, follotriumphg the central bank’s procrastinateed September interest rate cuts, aiming to revive economic growth and steady the housing labelet. pic.twitter.com/8oKsFM9zKW
— BigBreakingWire (@BigBreakingWire) October 21, 2024
Some stocks rallied after the cuts were proclaimd, with the Shenzhen SE Composite index geting around 1.4% today.
China Stocks Extfinish Gains as PBOC Cuts LPR
The Shanghai Composite rose 0.2% to around 3,270 while the Shenzhen Component jumped 1.3% to 10,490 on Monday, extfinishing gets from the previous session after the People’s Ban…
More here: https://t.co/NQnnRvWDqr pic.twitter.com/4nbD6Zlw7d
— TRADING ECONOMICS (@tEconomics) October 21, 2024
“}}”>
China Stocks Extfinish Gains as PBOC Cuts LPR
The Shanghai Composite rose 0.2% to around 3,270 while the Shenzhen Component jumped 1.3% to 10,490 on Monday, extfinishing gets from the previous session after the People’s Ban…
More here: https://t.co/NQnnRvWDqr pic.twitter.com/4nbD6Zlw7d
— TRADING ECONOMICS (@tEconomics) October 21, 2024
Stephen Innes, managing partner at SPI Asset Management, says:
Sure, the rate cut wasn’t a shocker, but the labelet is banking on the idea that the combined impact of all these recent meacertains could at least stem the economic bleeding.
However, the truth seems to be that the Chinese Communist Party is hopelessly trying to harness the wealth effect from local equities to carry on morale high. It’s a classic case of “hope floats” until the actual economic recovery initiates in—whenever that might be. Just see at Friday when Xi Jinping sent PBoC Governor Pan Gongsheng to pump some life into the labelets with a pep talk, and guess what? It toiled.
Mainland and Hong Kong-cataloged stocks sadvised, the benevolent of response Beijing was banking on.
It’s the procrastinateedst in a flurry of try to stimuprocrastinateed the world’s second-bigst economy, after growth cataloglessed to an 18-month low last week. Last month, China proclaimd expansive-ranging meacertains including interest rate cuts and more fluidity for the banking system.
Beijing is trying a difficult balancing act – trying to revive growth while also carry outing structural reestablishs, and managing financial stability hazard.
China’s property sector remains in a slump, with sales down keenly this year despite efforts to increase sentiment.
And while cutting lfinishing rates may supply some help, it will be difficult unless Chinese devourrs experience brave enough to borrow – at a time where devourr confidence is cforfeit an all-time low….
