Logo 14 Mar 2024

Steady as she goes: How the PBoC’s larger-than-expected February mortgage rate reduction aligns with gradual easing

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On the face of it, February’s 25 bps decline in the five-year loan prime rate (LPR) – the largest drop since the benchmark lending rate was introduced in 2019 – was an uncharacteristically aggressive move by China’s monetary authorities.

However, the cut is far less aggress...



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