Following the meeting on loan prime rate with 24 key financial institutions he chaired, People’s Bank of China (PBoC) Governor Yi Gang told reporters that they urge banks to issue loans in reference to LPR as soon as possible. Below are some additional key quotes as reported by Reuters.
“We will strengthen the financial support for the real economy and ensure the sustainability of businesses.”
“We will firmly remove the implicit floor in lending rates.”
“We will further lower real loan interest rates.”
These remarks had little no impact on the market sentiment.
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