PBOC keeps benchmark rate at 3% for eleventh straight month
The People's Bank of China announced on March 20 that it has maintained its reference interest rates unchanged, keeping them fixed in the lower bound zone since July last year to support economic growth despite persistent internal weakness. Officials cited a prolonged real estate sector downturn alongside external demand risks as primary drivers for this decision during their monthly monetary policy meeting held at noon local time on Friday morning here today (Mar 20).
Key Points
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1The People's Bank of China kept its benchmark interest rate unchanged at the current level.
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2China has maintained this 3% reference borrowing rate for eleven consecutive months as confirmed by multiple sources on March 20th.
Developments
Perspectives
China maintains unchanged loan rates for the tenth consecutive month.
— [Mar 20, 10:39] China mantém taxas de empréstimos inalteradas pelo décimo mês (Jornaldebrasilia.com.br)The People's Bank of Central announced this Friday that it will keep the reference interest rate at 3% for an eleventh consecutive month.
— [Mar 20, 10:48] China mantém taxa de juro de referência nos 3% pelo o mḙs consecutivo (Sapo.pt)"Weak domestic and external demand," combined with deflation risks and a prolonged real estate crisis continue to weigh on the Chinese economy.
— [Mar 20, 10:48] China mantém taxa de juro de referência nos 3% pelo o mḙs consecutivo (Sapo.pt)"Weak domestic and external demand," combined with deflation risks and a prolonged real estate crisis continue to weigh on the Chinese economy.
— [Mar 20, 10:48] China mantém taxa de juro de referência nos 3% pelo o mḙs consecutivo (Sapo.pt)O Banco Popular da China manteve a sua taxa de juro referencial em 3% e o LPR habitacional aos 5 anos ou mais nos mesmos níveis, cumprindo as previsões dos analistas. Esta decisão foi considerada óbvia pelos especialistas face à fraca procura interna externa, riscos inflacionários prolongados na crise imobiliária chinesa que dificultam a economia global de segunda maior do mundo em maio de 2024 e não se concretizou o corte previsto para este ano