(Bloomberg) -- China’s benchmark loan rate will be in the spotlight on Tuesday, with market participants divided over the need for more easing to support growth.
The loan prime rate could be lowered for the first time since early last year as a sign of further support for China’s slowing economy, according to four analysts including Ming Ming at the country’s biggest brokerage. Four others see no change in the rate at a monthly announcement on Tuesday.
While data on Thursday allayed fears of a sharp slowdown in China’s growth, speculation persists that the central bank may unleash another round of easing after it reduced the amount of cash banks need to hold in reserve. Any move by the authorities will be parsed by investors who are seeking clues on the health of the world’s second-largest economy and its implications on demand for commodities and trade in the region.
“Banks will have more liquidity to make loans after the reserve-ratio cut, a move allowing them to ask for smaller premiums in lending and making room for a lower LPR,” said Ming, head of fixed-income research at Citic Securities Co.
However, the central bank is widely expected to refrain from flooding the market with cash after it injected just 100 billion yuan ($15.5 billion) through medium-term loans on Thursday, compared with 400 billion yuan of maturities. It also kept the borrowing cost unchanged at 2.95%. The LPR, which currently stands at 3.85%, is reported as a spread over this rate.
The LPR is seen as China’s de facto benchmark funding cost since a reform in 2019 and is released on the 20th of each month. While the rate is technically decided by a group of 18 banks, the cost is widely regarded to be an indicator for Beijing’s preference on loan rates.
Still, some analysts don’t expect the the LPR to be reduced as it would indicate a change in PBOC’s policy stance, which the central bank says remains unchanged despite its recent RRR cut.
Nathan Chow, a senior economist at DBS Bank Ltd., said the LPR won’t be lowered this year unless the economy weakens more sharply. That’s because a cut sends a stronger signal on policy loosening, which Beijing would want to avoid as it seeks to contain financial leverage, he added.
“The PBOC will wait and see how effective previous stimulus are, before it moves to more aggressive easing,” Chow said.
Here’s a look at analysts’ outlook on LPR:
©2021 Bloomberg L.P.
EUR/USD
1.0798
-0.0028 (-0.26%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (6)
Sell (1)
EUR/USD
1.0798
-0.0028 (-0.26%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (6)
Sell (1)
GBP/USD
1.2635
-0.0003 (-0.02%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (6)
Sell (0)
USD/JPY
151.28
-0.04 (-0.03%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (7)
AUD/USD
0.6522
-0.0011 (-0.17%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (6)
Sell (1)
USD/CAD
1.3537
-0.0029 (-0.22%)
Summary
NeutralMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (4)
Sell (1)
EUR/JPY
163.31
-0.44 (-0.27%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (6)
EUR/CHF
0.9728
-0.0058 (-0.59%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (3)
Sell (4)
Gold Futures
2,236.35
+23.65 (+1.07%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (4)
Sell (3)
Silver Futures
24.872
+0.120 (+0.48%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (7)
Copper Futures
4.0047
+0.0047 (+0.12%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
Crude Oil WTI Futures
82.56
+1.21 (+1.49%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (3)
Sell (6)
Brent Oil Futures
86.41
+1.00 (+1.17%)
Summary
NeutralMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (4)
Sell (3)
Natural Gas Futures
1.726
+0.008 (+0.47%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (7)
US Coffee C Futures
189.35
-1.30 (-0.68%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (1)
Sell (7)
Euro Stoxx 50
5,082.75
+1.01 (+0.02%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
S&P 500
5,252.83
+4.34 (+0.08%)
Summary
BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (4)
Sell (3)
DAX
18,495.15
+20.09 (+0.11%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (0)
Sell (8)
FTSE 100
7,961.26
+29.28 (+0.37%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Hang Seng
16,541.42
+148.58 (+0.91%)
Summary
NeutralMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (3)
Sell (1)
US Small Cap 2000
2,134.55
+20.20 (+0.96%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (9)
Sell (0)
IBEX 35
11,069.21
-42.09 (-0.38%)
Summary
↑ SellMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (0)
Sell (6)
BASF SE NA O.N.
52.875
-0.375 (-0.70%)
Summary
SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (3)
Sell (4)
Bayer AG NA
28.41
-0.01 (-0.04%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (5)
Allianz SE VNA O.N.
277.73
+0.28 (+0.10%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Adidas AG
207.00
+2.30 (+1.12%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (7)
Sell (1)
Deutsche Lufthansa AG
7.287
+0.111 (+1.55%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (2)
Siemens AG Class N
176.85
-0.07 (-0.04%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
Deutsche Bank AG
14.565
-0.047 (-0.32%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
EUR/USD | 1.0798 | ↑ Buy | |||
GBP/USD | 1.2635 | ↑ Buy | |||
USD/JPY | 151.28 | Sell | |||
AUD/USD | 0.6522 | ↑ Buy | |||
USD/CAD | 1.3537 | Neutral | |||
EUR/JPY | 163.31 | Sell | |||
EUR/CHF | 0.9728 | ↑ Sell |
Gold | 2,236.35 | ↑ Buy | |||
Silver | 24.872 | Sell | |||
Copper | 4.0047 | ↑ Buy | |||
Crude Oil WTI | 82.56 | ↑ Sell | |||
Brent Oil | 86.41 | Neutral | |||
Natural Gas | 1.726 | ↑ Sell | |||
US Coffee C | 189.35 | Neutral |
Euro Stoxx 50 | 5,082.75 | ↑ Sell | |||
S&P 500 | 5,252.83 | Buy | |||
DAX | 18,495.15 | ↑ Sell | |||
FTSE 100 | 7,961.26 | ↑ Sell | |||
Hang Seng | 16,541.42 | Neutral | |||
Small Cap 2000 | 2,134.55 | ↑ Buy | |||
IBEX 35 | 11,069.21 | ↑ Sell |
BASF | 52.875 | Sell | |||
Bayer | 28.41 | ↑ Sell | |||
Allianz | 277.73 | ↑ Buy | |||
Adidas | 207.00 | Buy | |||
Lufthansa | 7.287 | Neutral | |||
Siemens AG | 176.85 | ↑ Buy | |||
Deutsche Bank AG | 14.565 | ↑ Buy |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 7,880/ 8,050 (0/ 0) # 1,398 |
SJC HCM | 7,900/ 8,100 (10/ 10) # 1,450 |
SJC Hanoi | 7,900/ 8,102 (10/ 10) # 1,452 |
SJC Danang | 7,900/ 8,102 (10/ 10) # 1,452 |
SJC Nhatrang | 7,900/ 8,102 (10/ 10) # 1,452 |
SJC Cantho | 7,900/ 8,102 (10/ 10) # 1,452 |
Cập nhật 28-03-2024 23:18:15 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$2,214.26 | +23.24 | 1.06% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 24.690 | 25.180 |
RON 95-III | 24.280 | 24.760 |
E5 RON 92-II | 23.210 | 23.670 |
DO 0.05S | 21.010 | 21.430 |
DO 0,001S-V | 21.640 | 22.070 |
Dầu hỏa 2-K | 21.260 | 21.680 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $82.37 | +4.94 | 0.06% |
Brent | $86.38 | +4.74 | 0.06% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 24.580,00 | 24.950,00 |
EUR | 26.018,34 | 27.446,04 |
GBP | 30.390,95 | 31.684,00 |
JPY | 158,69 | 167,96 |
KRW | 15,84 | 19,20 |
Cập nhật lúc 18:53:18 28/03/2024 Xem bảng tỷ giá hối đoái |