In the first month of 2023, China continued to maintain the loan market quotation interest rate (LPR) unchanged, leaving more policy space for the future. In the past, the interest rate of loan convenience (MLF) was also motionless.
According to Bloomberg, the announcement issued by the People's Bank of China on Friday (January 20) shows that the first year of LPR was reported to 3.65%, and 4.3%of the five -year or more.In line with market mainstream expectations.
Earlier BloomberSlightly different. Although the median value still falls at 4.3%, six of the 11 economists think it is stable, and the remaining five believe that it will be reduced by 5 to 15 basis points.
The Chinese government has shifted from epidemic prevention to grow.The latest data shows that although China's economic growth rate fell to the low level since the 1970s, the data in the fourth quarter and December would be better than expected, which may indicate that the worst stage of the Chinese economy has ended.As the peak of the epidemic has gradually passed, the regulatory layer chose to wait for further observing the effectiveness of the policy.
But the recovery road is destined to be full of challenges, and the real estate industry has not really released a signal to the bottom.The latest data shows that China's residential sales atrophied 27%in December last year, continuing the continuous decline since July 2021, and real estate development investment continued to decline, and last year decreased by 10%.Earlier, the Securities Daily quoted analysts that the LPR of more than five years in the first quarter still had room for decline, or 5 to 15 basis points.
The People's Bank of China has previously exceeded the MLF for the second month in a row for the second consecutive month to release signals that care for the real economy before the Spring Festival and continue to support the real economy.
