China Cuts MLF Rate In Nod To Sagging Economy

China Cuts MLF Rate In Nod To Sagging Economy

Late last month, Beijing disappointed the market by keeping the loan prime rate unchanged at 4.2%. Technically, the LPR - which was revamped in August - is compiled using submissions from 18 banks, but the PBoC can steer it, just like the authorities can steer everything else in China. LPR fell in September and also in August, the first month using the revamped calculation. Read more: Beijing Is Prepared For Slower Chinese Growth And Rising Defaults. But Is Everyone Else? As noted last mon
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