PBOC cuts Loan Prime Rates (LPRs) by 10bp for both 1- and 5-year loans ...Middle East

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LPRs are no longer as important as they once were. The People's Bank of China (PBOC) shifted its primary monetary policy tool to the seven-day reverse repurchase agreement (reverse repo) rate. This transition began in mid-2024. This move aligns China's monetary policy framework more closely with global standards, such as those of the U.S. Federal Reserve and the European Central Bank, which typically rely on a single short-term policy rate to guide market expectations and liquidity.

This article was written by Eamonn Sheridan at www.forexlive.com.

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