(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:
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EUR/USD
1.0808
-0.0018 (-0.17%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (2)
Sell (7)
EUR/USD
1.0808
-0.0018 (-0.17%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (2)
Sell (7)
GBP/USD
1.2635
-0.0003 (-0.02%)
Summary
NeutralMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (1)
Sell (6)
USD/JPY
151.30
-0.01 (-0.01%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (8)
Sell (0)
AUD/USD
0.6509
-0.0024 (-0.37%)
Summary
NeutralMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (2)
Sell (5)
USD/CAD
1.3571
+0.0004 (+0.03%)
Summary
NeutralMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (6)
Sell (2)
EUR/JPY
163.49
-0.26 (-0.16%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (6)
Sell (2)
EUR/CHF
0.9766
-0.0020 (-0.20%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (6)
Gold Futures
2,233.45
+20.75 (+0.94%)
Summary
NeutralMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (1)
Sell (6)
Silver Futures
24.793
+0.041 (+0.17%)
Summary
NeutralMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (1)
Sell (7)
Copper Futures
4.0012
+0.0012 (+0.03%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (2)
Crude Oil WTI Futures
82.44
+1.09 (+1.34%)
Summary
↑ SellMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (1)
Sell (8)
Brent Oil Futures
86.37
+0.96 (+1.12%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (7)
Natural Gas Futures
1.748
+0.030 (+1.75%)
Summary
NeutralMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (2)
Sell (6)
US Coffee C Futures
188.85
-1.80 (-0.94%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
Euro Stoxx 50
5,093.15
+11.41 (+0.22%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (8)
Sell (0)
S&P 500
5,248.49
+44.91 (+0.86%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (10)
Sell (0)
DAX
18,494.55
+19.49 (+0.11%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
FTSE 100
7,958.25
+26.27 (+0.33%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (3)
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
2,114.35
+44.19 (+2.13%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
IBEX 35
11,095.82
-15.48 (-0.14%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (4)
Sell (3)
BASF SE NA O.N.
52.920
-0.330 (-0.62%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Bayer AG NA
28.45
+0.03 (+0.11%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (0)
Sell (6)
Allianz SE VNA O.N.
276.88
-0.57 (-0.21%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Adidas AG
206.50
+1.80 (+0.88%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (9)
Deutsche Lufthansa AG
7.263
+0.086 (+1.20%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (6)
Sell (2)
Siemens AG Class N
177.07
+0.16 (+0.09%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (3)
Sell (4)
Deutsche Bank AG
14.605
-0.007 (-0.05%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
EUR/USD | 1.0808 | Neutral | |||
GBP/USD | 1.2635 | Neutral | |||
USD/JPY | 151.30 | ↑ Buy | |||
AUD/USD | 0.6509 | Neutral | |||
USD/CAD | 1.3571 | Neutral | |||
EUR/JPY | 163.49 | ↑ Buy | |||
EUR/CHF | 0.9766 | ↑ Sell |
Gold | 2,233.45 | Neutral | |||
Silver | 24.793 | Neutral | |||
Copper | 4.0012 | ↑ Buy | |||
Crude Oil WTI | 82.44 | ↑ Sell | |||
Brent Oil | 86.37 | ↑ Sell | |||
Natural Gas | 1.748 | Neutral | |||
US Coffee C | 188.85 | ↑ Buy |
Euro Stoxx 50 | 5,093.15 | ↑ Buy | |||
S&P 500 | 5,248.49 | ↑ Buy | |||
DAX | 18,494.55 | ↑ Buy | |||
FTSE 100 | 7,958.25 | ↑ Buy | |||
Hang Seng | 16,541.42 | Neutral | |||
Small Cap 2000 | 2,114.35 | ↑ Buy | |||
IBEX 35 | 11,095.82 | ↑ Buy |
BASF | 52.920 | ↑ Buy | |||
Bayer | 28.45 | ↑ Sell | |||
Allianz | 276.88 | ↑ Sell | |||
Adidas | 206.50 | ↑ Sell | |||
Lufthansa | 7.263 | ↑ Buy | |||
Siemens AG | 177.07 | Neutral | |||
Deutsche Bank AG | 14.605 | ↑ Sell |
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 20:16:48 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$2,212.09 | +21.07 | 0.96% |
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 | $82.21 | +4.77 | 0.06% |
Brent | $86.28 | +4.64 | 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 |