Stock market quotes, forex, financial news, forex tools –

People’s Bank of China cut a value of basic rate

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
People’s Bank of China cut a value of basic rate
April 20
13:00 2020

The Central Bank of China is easing the monetary policy: they have lowered the LPR (loan prime rate) from 4.05% to 3.85%.

The interest rate has been reduced by the regulator for the second time since the beginning of the year. It is assumed that this measure will help the business recover. This step should be especially effective to help small companies.

The rate was also lowered on loans with the maturity of five or more years. The new value is now 4.65% (was 4.75%).

The Chinese regulator revises the values of base interest rates on the 20th of each month.

The rate cut is a completely expected step, since a week earlier it became known about the value of China’s GDP for the first quarter of this year. It turned out that the decline in GDP was 6.8%. Such a sharp decline has pointed to an objective picture of the damage caused to the Chinese economy by the coronavirus pandemic.

In January-March 2020, the net profit of China’s industrial enterprises decreased by 58.8%.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment