People's Bank of China Loan Prime Rate 3.45% Vs. 3.40% Est.; 3.55% Prior
Portfolio Pulse from Benzinga Newsdesk
The People's Bank of China has increased its Loan Prime Rate to 3.45% from the previous 3.55%, which is higher than the estimated 3.40%.
August 21, 2023 | 4:23 am
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NEGATIVE IMPACT
The increase in the Loan Prime Rate by the People's Bank of China may impact the iShares China Large-Cap ETF (FXI).
The increase in the Loan Prime Rate indicates a tightening monetary policy in China, which could slow economic growth. This may negatively impact the performance of large-cap Chinese companies, and therefore the FXI ETF, which tracks these companies.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75