China's new lending benchmark set to be lowered marginally for 3rd month - Reuters poll [Reuters (UK)]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Reuters
China's new lending benchmark set to be lowered marginally for third month: Reuters poll - Reuters 2 Min Read SHANGHAI (Reuters) - China is expected to cut its newly introduced benchmark lending rate for the third straight month, a Reuters poll conducted this week showed, as policymakers continue to lower borrowing cost in an economy growing at the slowest pace in almost three decades. Forty-eight respondents, or 71% of all participants including traders and analysts, predicted a reduction in the Loan Prime Rate (LPR) in monthly fixing on Monday. Another 20 respondents forecast no change in the interest rate. Among those who forecast a reduction in the LPR, over 70% of them predicted a no more than 5-basis-point cut in the one-year LPR CNYLPR1Y=CFXS and tipped the 5-year rate CNYLPR5Y=CFXS to be unchanged. A lower LPR could translate to lower borrowing costs for companies and consumers in the real economy. “I think LPR may trend down further gradually to reflect the narrowing credit s
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