# CN: Loan Prime Rate - CME Group

> The People's Bank of China left the one-year and five-year loan prime rates unchanged at 3.35% and 3.85%, matching consensus. Both rates had been cut by 10 basis points at the prior month's meeting. Officials cited external pressures and insufficient domestic demand but gave little guidance on further easing.

- Date: 2024-08-01 · published 2024-08-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/4690-cn-loan-prime-rate-cme-group
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Holding rates signals that recent cuts are seen as enough support for now, which lowers near-term odds of stimulus that would lift Chinese feed and meat demand. The decision is expected and has little direct price impact.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-09-24 | [Fresh from the Trading Room: Commodities comeback - CME Group](https://feedsoft.ai/events/5611-fresh-from-the-trading-room-commodities-comeback-cme-group.md) | -0.5% | +1.0% |
| USDCNY | 2024-07-08 | [Rupee aided by growing Fed rate cut hopes, yuan slip may limit gains \| MarketScreener](https://feedsoft.ai/events/29572-rupee-aided-by-growing-fed-rate-cut-hopes-yuan-slip-may-limit-gains.md) | -0.3% | -1.5% |
| USDCNY | 2022-09-28 | [China's yuan slides to 14-year low after US rate hikes \| AP News](https://feedsoft.ai/events/8604-china-s-yuan-slides-to-14-year-low-after-us-rate-hikes-ap-news.md) | -0.9% | -0.1% |
| USDCNY | 2023-06-27 | [Morning Bid: China supports, peak rate haze](https://feedsoft.ai/events/10489-morning-bid-china-supports-peak-rate-haze.md) | +0.0% | -1.4% |
| USDCNY | 2023-11-29 | [Yuan firms on prospects for US rate cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33389-yuan-firms-on-prospects-for-us-rate-cuts-business-and-finance-business-recorder.md) | +0.1% | +0.0% |

## Sources

- cmegroup.com: https://www.cmegroup.com/education/events/econoday/2024/08/feed603495.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.