China: October results cloud Q4 2022 outlook – UOB – by pabspiovano China GDP Banks
Key Takeaways
“China’s lock-step moves to recalibrate their COVID measures and announce a 16-point rescue package for the real estate market so as to address the two key weaknesses of the economy.” “People’s Bank of China kept its 1Y medium-term lending facility rate at 2.75% in Nov and rolled over CNY850 bn of CNY1 tn that expired this month. Further monetary policy easing remains a possibility going forward but current weak credit demand condition likely reduces the effectiveness of further rate cuts. PBoC’s rate hold today suggests that the loan prime rates will also be unchanged at 3.65% and 4.30% for the 1Y and 5Y rates respectively next Mon .
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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