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The People's Bank of China has required banks to use the one-year Loan Prime Rate as the basis for lending rates, currently 4.15%, versus the 4.35% benchmark. ING argues the change is not a rate cut and will not end yuan volatility.
Interest rate reform shapes Chinese monetary policy and credit conditions, with limited direct effect on feed commodity prices.
think.ing.comIris PangJan 10, 2020After 138 past policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (47% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
