Created
: 2025.01.20
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
PBOC leaves Loan Prime Rates unchanged in January
Breaking news
PBOC leaves Loan Prime Rates unchanged in January
New
2025.01.20 10:06
2025.01.20 10:06
2025.01.20 10:06
The People's Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Monday. The one-year and five-year LPRs were at 3.10% and 3.60%, respectively.
Market reaction
At the time of writing, AUD/USD is holding higher ground near 0.6200, up 0.05% on the day.
PBOC FAQs
The primary monetary policy objectives of the People's Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China's central bank also aims to implement financial reforms, such as opening and developing the financial market.
The PBoC is owned by the state of the People's Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC's management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts.
Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China's benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China's central bank can also influence the exchange rates of the Chinese Renminbi.
Yes, China has 19 private banks - a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
Last updated
: 2025.01.20
Related articles
FX option expiries for Jan 23 NY cut
3 minutes agoUSD/CHF consolidates around 0.9060-0.9065 area, above two-week low set on Wednesday
12 minutes agoUSD/CNH stays above 7.2800 despite new actions by Chinese authorities
25 minutes agoEUR/USD weakens to near 1.0400 on Trump tariff threats, ECB dovish bets
50 minutes agoIndia Gold price today: Gold falls, according to FXStreet data
2025.01.23 13:36India Gold price today: Gold falls, according to FXStreet data
2025.01.23 13:35
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
FX option expiries for Jan 23 NY cut
FX option expiries for Jan 23 NY cut at 10:00 Eastern Time via DTCC can be found below.
New
2025.01.23 14:50USD/CHF consolidates around 0.9060-0.9065 area, above two-week low set on Wednesday
The USD/CHF pair struggles to capitalize on the previous day's modest bounce from the 0.9035-0.9030 area, or over a two-week low and oscillates in a narrow range during the Asian session on Thursday.
New
2025.01.23 14:41USD/CNH stays above 7.2800 despite new actions by Chinese authorities
USD/CNH, representing the offshore Chinese Yuan (CNH), extends its gains for the third successive day on Thursday.
New
2025.01.23 14:28EUR/USD weakens to near 1.0400 on Trump tariff threats, ECB dovish bets
The EUR/USD pair trades with mild losses around 1.0410 during the Asian trading hours on Thursday.
New
2025.01.23 14:03India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Thursday, according to data compiled by FXStreet.
New
2025.01.23 13:36India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Thursday, according to data compiled by FXStreet.
New
2025.01.23 13:35GBP/USD struggles near 1.2300 due to differing policy stances between central banks
GBP/USD remains subdued for the second successive session, trading around 1.2320 during the Asian hours on Thursday.
New
2025.01.23 13:30Gold price fundamental backdrop seems tilted in favor of bullish traders
Gold price (XAU/USD) drifts lower during the Asian session on Thursday and moves away from its highest level since early November, around the $2,763-2,764 area touched the previous day.
New
2025.01.23 13:29USD/CAD Price Forecast: Tests 1.4400; next barrier appears near multi-year highs
The USD/CAD pair continues its upward trend for the third consecutive session, hovering around 1.4390 during Thursday's Asian trading hours.
New
2025.01.23 12:55Silver Price Forecast: XAG/USD falls toward $30.50 as US Dollar rises on hawkish Fed
Silver price (XAG/USD) pauses its three-day rally, trading around $30.60 during the Asian session on Thursday.
New
2025.01.23 12:10Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
