Sino-Singapore Jingwei Client, March 22. The People's Bank of China authorized the National Interbank Funding Center to announce that the market quoted interest rate (LPR) for loans in March is 3.85% for 1-year LPR and 4.65% for 5-year or longer LPR.
The Sino-Singapore Jingwei client combed and found that since April 2020, LPR has not changed for 11 consecutive months.
At the China Development Forum in 2021, the Governor of the People's Bank of China Yi Gang said that we have more room for monetary policy control.
China's monetary policy has always been maintained within a normal range, with adequate tools and means, and moderate interest rates.
We need to cherish and make good use of the normal monetary policy space, and maintain policy continuity, stability and sustainability.
Oriental Golden City believes that it is unlikely that the 1-year LPR quotation will be adjusted in the short term.
In the first half of this year, as the domestic economy continues to be repaired and the external uncertainty remains intertwined, and the domestic price level as a whole remains moderate, the monetary policy will continue to be in the "observation period", and the possibility of policy interest rate adjustment represented by the MLF interest rate Very small, the LPR quotation base is expected to remain stable.
Oriental Golden City predicts that short-term and medium-term market interest rates will continue to fluctuate around policy interest rates for a period of time in the future, and changes in funding will have a limited impact on banks' marginal funding costs.
(Zhongxin Jingwei APP)