Economic calendar in Asia Wednesday, November 20, 2024 - China rate setting day ...Middle East

The PBOC's Loan Prime Rate (LPR) will be set today, both 1- and 5-year. The TL;DR is that no change in rates is expected. Currently the one-year LPR is at 3.1%, while the five-year rate is 3.6%both were cut by 25 basis points last month, the largest reduction since authorities reformed the LPR pricing system in 2019What is LPR?Its an interest rate benchmark used in China, set by the People's Bank of China each month.The LPR serves as a reference rate for banks when they determine the interest rates for (primarily new) loans issued to their customers.Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.Its calculat

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