{"id":6553,"date":"2024-01-23T11:53:20","date_gmt":"2024-01-23T03:53:20","guid":{"rendered":"https:\/\/www.umtradings.com\/?p=6457"},"modified":"2024-01-26T08:37:38","modified_gmt":"2024-01-26T08:37:38","slug":"pboc-holds-rates-steady-disappointing-market-expectations-of-further-easing-and-sparking-broad-selloffs","status":"publish","type":"post","link":"https:\/\/www.umtradings.com\/vn\/pboc-holds-rates-steady-disappointing-market-expectations-of-further-easing-and-sparking-broad-selloffs\/","title":{"rendered":"PBOC Holds Rates Steady, Disappointing Market Expectations of Further Easing and Sparking Broad Selloffs\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The People&#8217;s Bank of China (PBoC) decided to keep its lending rates stable in the January setting. The medium-term lending facility, known as the one-year loan prime rate (LPR), used for corporate and personal loans, stayed at a historic low of 3.45% for the fifth month in a row. The five-year rate, a benchmark for mortgage rates, remained at 4.2% for the seventh month consecutively. Last week, the central bank notably increased liquidity injections through medium-term policies while unexpectedly maintaining the interest rate, leading to the decision on Monday. Despite growing faster than the previous quarter at 5.2% year over year in 2023&#8217;s fourth quarter, the Chinese economy fell short of the predicted 5.3%. The GDP saw an overall annual expansion of 5.2%, outpacing the government&#8217;s roughly 5.0% target and speeding up from a 3.0% increase in 2022, thanks to various supportive measures and a low base effect from last year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2024\/01\/1-15.jpg\" alt=\"\" class=\"wp-image-6459\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>(China Loan Prime Rate\uff0cPBoC)\u00a0<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On Monday, the Shanghai Composite fell by 2.68%, settling at 2,756, while the Shenzhen Component plunged by 3.5% to 8,480. Mainland stocks hit new multiple-year lows as China&#8217;s central bank maintained its primary lending rates steady, which contradicted the market&#8217;s anticipation for additional policy relaxation. The Hang Seng also experienced a downturn, with a decline of 2.27% as all its sectors witnessed pullbacks.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2024\/01\/2-7-1.jpg\" alt=\"\" class=\"wp-image-6460\" style=\"width:690px;height:auto\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>(Shanghai Composite Index 5-year Chart)\u00a0<\/em><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2024\/01\/3-12.jpg\" alt=\"\" class=\"wp-image-6461\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>(Hang Seng Index 5-year Chart)\u00a0<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Disclaimer&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The People&#8217;s Bank of China (PBoC) decided to keep its lending rates stable in the January setting. The medium-term lending facility, known as the one-year loan prime rate (LPR), used for corporate and personal loans, stayed at a historic low of 3.45% for the fifth month in a row. The five-year rate, a benchmark for [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":6578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2,3],"tags":[117,118],"class_list":["post-6553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market_news","category-latest","tag-lpr","tag-peoples-bank-of-china"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/posts\/6553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/comments?post=6553"}],"version-history":[{"count":0,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/posts\/6553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/media\/6578"}],"wp:attachment":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/media?parent=6553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/categories?post=6553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/tags?post=6553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}