Reported Earlier, People's Bank of China Loan Prime Rate Unchanged At 3.35%
Portfolio Pulse from Benzinga Newsdesk
The People's Bank of China has decided to keep the Loan Prime Rate unchanged at 3.35%. This decision may have implications for Chinese markets and related ETFs.
September 20, 2024 | 5:04 am
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NEUTRAL IMPACT
The unchanged Loan Prime Rate by the People's Bank of China could stabilize the Chinese markets, potentially impacting the iShares China Large-Cap ETF (FXI) which tracks major Chinese companies.
The decision to keep the Loan Prime Rate unchanged suggests a stable monetary policy environment in China. This stability can be positive for Chinese equities, which FXI tracks. However, the direct impact on FXI may be neutral in the short term as the rate was expected to remain unchanged.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50