Decisions on one-year and five-year loan prime rates from the PBOC
- The one-year LPR has been unchanged for 16 months at 3.85%
- Five year rate 4.65% vs 4.65% expected
Prior to the release, Reuters picked up a shift in expectations in a snap poll of economists and traders. Of 32 surveyed, 25 saw no change but 7 were anticipating a move -- six of those seeing just a 5 bps cut while the lone remainder saw 10 bps. There was no speculation about a cut in the 5-year rate.
