China recorta las tasas crediticias de referencia en 25 puntos básicos para impulsar la recuperación económica
La apuesta estratégica de China por impulsar el crecimiento económico ha llevado a un recorte de las tasas de interés de referencia. El Banco Popular de China anunció el lunes que bajaría los tipos en 25 puntos básicos. El gobernador del Banco Central chino señaló los cambios de política durante un foro en Beijing el viernes.
El Banco Popular de China (PBOC), el banco central de China, ha reducido las tasas de interés de referencia del país en 25 puntos básicos para impulsar la recuperación económica. El banco central anunció que la tasa preferencial de los préstamos a cinco años (LPR) se redujo del 3,85% al 3,6%, mientras que la tasa preferencial de los préstamos a un año se redujo del 3,35% al 3,1%. La LPR a un año afecta a los préstamos corporativos y a la mayoría de los préstamos a los hogares en China, mientras que la LPR a cinco años es la referencia para las tasas hipotecarias.
El gobernador del Banco Popular de China insinúa más políticas para el crecimiento económico
⚠️ China recorta las tasas crediticias de referencia en 25 puntos básicos
- ProblemSniper (@ProblemSniper) 21 de octubre de 2024
PBOC’s governor, Pan Gongsheng, had given hints on the policy change while speaking at the Annual Conference of Financial Street Forum 2024 held in Beijing on Friday. The governor had stated in the forum that the central bank would lower the benchmark lending rates by 20 to 25 basis points.
Shane Oliver, head of investment strategy and chief economist at AMP, said that the monetary stimulus of lowering loan prime rates is occurring on a significant basis in China. However, he mentioned that the policy alone is not enough to pull the country’s economy from the trenches and would require more fiscal stimulus.
Pan also made numerous pledges on economic policy changes aligning with the country’s overall plan to boost economic recovery and growth. The executive mentioned that the seven-day reverse purchase rates will be lowered by 20 basis points while the medium-term lending facility rate will be reduced by 30 basis points.
Pan also said the PBOC would lower the reserve requirement ratio for Chinese banking institutions, which is the amount of cash that banks need to have for liquidity provision, by 20 to 25 basis points. The policy change aims to save the ailing property sector and boost consumption in the country.
China’s PBOC lowers the reserve requirement ratio by 50 basis points
In September, the PBOC lowered the reserve requirement ratio by 50 basis points, among other policy changes that were inclined towards revamping the Chinese economy, which is currently the second largest economy worldwide. China also shaved its short and long-term rates in July.
China’s National Bureau of Statistics reported a 4.6% growth in the third-quarter GDP year-on-year. The growth slightly exceeded the expected figure of 4.5% by economists. Industrial production, retail sales, and other statistics released on Friday also beat experts’ expectations.
Recently, missed economic data expectations sparked concerns over China’s ability to grow by 5% this year. On October 12th, Finance Minister Lan Foan spoke during a news conference, promising significant government debt increases and support for property and consumer sectors. However, the press briefing left investors wanting, since the minister failed to mention any numerical details, despite being strong on determination.
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