A aposta estratégica da China para impulsionar o crescimento económico levou a um corte nas taxas de juro de referência. O Banco Popular da China anunciou na segunda-feira que iria reduzir as taxas em 25 pontos base. O governador do Banco Central Chinês sinalizou as mudanças de política durante um fórum em Pequim na sexta-feira.
O Banco Popular da China (PBOC), o banco central da China, reduziu as taxas de juro de referência do país em 25 pontos base para impulsionar a recuperação económica. O banco central anunciou que a taxa básica de juros do empréstimo de cinco anos (LPR) foi reduzida de 3,85% para 3,6%, enquanto a taxa básica de juros do empréstimo de um ano foi reduzida de 3,35% para 3,1%. A LPR de um ano afecta os empréstimos empresariais e a maioria dos empréstimos às famílias na China, enquanto a LPR de cinco anos é a referência para as taxas hipotecárias.
⚠️ China reduz taxas de juros de referência em 25 pontos base
— ProblemSniper (@ProblemSniper) 21 de outubro 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.
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.