Chinese Banks Hold Lending Rates as PBOC Seen Easing in 2024
- Economists expect required reserve ratio cut in first quarter
- Authorities seen to guide deposit rates lower before rate cut
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Chinese banks held their benchmark lending rates after a similar move by the central bank, bolstering expectations that further monetary easing will take place in early 2024.
The nation’s commercial lenders stood pat on their prime lending rates — including a five-year rate used as a reference for mortgages — on Wednesday. That came after the People’s Bank of China kept its so-called medium-term lending facility unchanged last week, following a cut in August.