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Mainland Investors Cheer Loan Prime Rate Cu
China Market Update: Mainland Investors Cheer Loan Prime Rate Cu
Asian equities were mixed overnight as Mainland China outperformed and the US dollar strengthened.
China cuts benchmark loan prime rates by 25 bps
China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy.
PBoC cuts loan prime rates
The one-year loan prime rate (LPR) was cut from 3.35% to 3.1%, while the five-year LPR was lowered from 3.85% to 3.6%, the People’s Bank of China (PBoC) said in a statement. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
Hoodline
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Tennessee Sets New Maximum Interest Rate at 12% Following Federal Reserve Update
The Tennessee Department of Financial Institutions has announced a new maximum interest rate of 12% per annum.
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Get the lowest HELOC rates available in October 2024
At today’s average HELOC rate of 8.88%, which assumes an 80% LTV, borrowing $100,000 on a 10-year repayment term equates to a ...
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China reduces benchmark loan prime rates by 25 basis points to boost economy
The headquarters of the People's Bank of China in Beijing Photo: IC. China cut its benchmark lending rates by 25 basis points ...
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Oil and Natural Gas Technical Analysis Following PBC’s Rate Cuts
Oil and natural gas prices initiated a rebound after the PBoC’s Loan Prime Rate cuts, but the overall trend remains bearish.
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