Interest income from loans with lending rate no higher than 150 percent of benchmark official lending rate will be exempt from VAT, the finance ministry said on its website.
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Interest income from loans with lending rate no higher than 150 percent of the benchmark official lending rate will be exempt from VAT, the finance ministry said on its website.
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China will keep its benchmark deposit rate for a relatively long time, but will phase out its benchmark lending rate in the push to unify the benchmark lending rate and market-based rates.
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The bank kept its overnight lending rate at 8.5 percent.
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The bank kept the overnight lending rate at 8.25 percent.
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Ariantoro said the proposed maximum lending rate was still under discussion.
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The key lending rate has been at 4.25 percent since April.
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The Fed's benchmark overnight lending rate now stands at 2.25 percent.
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ZIMBABWE CENBANK GOVERNOR MANGUDYA SAYS MAIN LENDING RATE UNCHANGED AT 35%
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On Thursday Bank of Uganda held its benchmark lending rate at 9%.
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The PBOC has kept the benchmark lending rate unchanged since October 2015.
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That compares with the 9.3 percent base lending rate of the bank.
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Beijing trimmed its newly reformed one-year benchmark lending rate to 4.2%.
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It was 10 bps lower than the previous benchmark one-year lending rate.
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The bank raised its overnight lending rate to 9.25 percent from 8.5 percent.
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Bank of America raised its prime lending rate to 3.75 percent, effective immediately.
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The lending rate fell 28 basis points in the fourth quarter, it said.
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That has kept short-term yields anchored near the Fed's overnight lending rate.
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The Fed's short-term lending rate is now targeted between 2.25% and 2.5%.
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China's central bank is likely to lower its key lending rate on Feb.
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It also lifted it overnight lending rate to 8.5 percent, from 8.25 percent.
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The Federal Reserve is widely expected to raise its lending rate in December.
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Brazil's benchmark overnight lending rate, at 14 percent, is among the world's highest.
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The bank's overnight deposit rate is 15.75% and the overnight lending rate 16.75%.
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The current overnight lending rate target is a range of 2.25% to 2.5%.
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The average consumer lending rate in Brazil now stands at about 7 percent.
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The ECB's key lending rate is 0%, while its deposit rate is -0.4%.
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These numbers, along with lending-rate cuts, have fueled a stock market rally.
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Investors were also concerned about a sudden spike in the overnight lending rate.
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In July, central bank head Yi Gang said China would keep its benchmark deposit rate for a relatively long time, but would phase out its benchmark lending rate in the push to unify the benchmark lending rate and market-based rates.
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The central bank's main lending rate has been at 11 percent since July 2015.
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The PBOC had previously issued a weighted average lending rate for non-financing firms.
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It was 10 bps lower than the PBOC's existing benchmark one-year lending rate.
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Policy sources said PBOC is likely to lower its key lending rate on Feb.
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Six economists forecast a 25-100 basis point hike in the overnight lending rate.
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It will instead use the seven-day interbank lending rate as its reference rate.
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The target range for the fed funds overnight lending rate is 2.25% to 2.5%.
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China's benchmark 1-year lending rate has stayed the same since 2015, Hu noted.
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Cooperman said the fed funds overnight lending rate should be at 3% not 2%.
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The benchmark overnight lending rate remains close to zero seven years after recession ended.
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It marked the first time the PBOC had lowered this lending rate since 2016.
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The move by Argentina's central bank brings its benchmark lending rate to 60 percent.
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In a measure of how much margins are being hit, the spread between the 10-year bond yield and a key lending rate, the median one-year marginal cost-based lending rate, has narrowed to only 80 bps from 200 bps in July.
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Foreign brokerages feel the lending rate cuts will help banks regain market share from bonds.
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The one-year policy lending rate was last cut in October 2015 to 4.35 percent.
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The overnight deposit rate remained 18.75 percent and the overnight lending rate at 19.75 percent.
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It was also 10 bps lower than the PBOC's existing benchmark one-year lending rate.
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Some analysts believe China could also lower its new benchmark lending rate on Sept. 292.07.
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It was 10 basis points lower than the PBOC's existing benchmark one-year lending rate.
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The Fed left its benchmark lending rate and the discount rate unchanged at its Jan.
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The PBOC has not cut its benchmark lending rate since the last downturn in 2015.
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That is below the average corporate lending rate of 5.97 percent in the second quarter.
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The decision marks the seventh consecutive month the board has raised the key lending rate.
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The benchmark lending rate is currently in a range of 1.50 percent to 1.75 percent.
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The Fed lowered the overnight lending rate to a target range of 1.5% to 1.75%.
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On Tuesday the central bank cut the overnight lending rate from 9 percent to 8.75 percent.
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The Fed's benchmark overnight lending rate remains in a range of 0.25 percent to 0.50 percent.
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The weighted average lending rate for companies and home buyers was 5.66% in the second quarter.
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The Chinese central bank has left its benchmark lending rate unchanged since an October 2015 cut.
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In February the central bank cut the overnight lending rate by 100 basis points, to 16.75%.
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Six economists had forecast the overnight lending rate would be raised 25 to 100 basis points.
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However, HSBC and Standard Chartered later said they would leave the city's best lending rate unchanged.
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The average weighted prime lending rate has risen 84 basis points to 9.19 percent since Feb.
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Policymakers have held the central bank's benchmark lending rate at 10 percent since September last year.
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It hiked the overnight lending rate from 11.75 percent to 12.75 percent, its highest since 2008.
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The Fed's target range for its benchmark lending rate is currently between 1.50 and 1.75 percent.
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The overnight deposit rate stayed at 18.75 percent and the overnight lending rate at 19.75 percent.
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The bank held the benchmark lending rate at 8.25 in February after a series of hikes.
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The overnight benchmark lending rate is currently in a target range of between 1.50% and 1.75%.
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It said the weighted average lending rate fell 4 basis points in third quarter to 5.62%.
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It said the weighted average lending rate fell 4 basis points in third quarter to 5.62%.
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Bahrain's central bank cut overnight, weekly and monthly deposit rates, in addition to its lending rate.
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This came along with keeping its short-term lending rate anchored near zero for seven years.
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Disappointment that the PBOC did not lower the one-year lending rate weighed on Chinese shares.
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The bank held its benchmark lending rate at 10 percent at its last meeting, in November.
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It is expected to keep its benchmark lending rate unchanged at 4.35 percent through this year.
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The overnight lending rate rose to 4.75 percent and the overnight deposit rate rose to 1.00 percent.
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The People's Bank of China (PBOC) is also likely to lower its key lending rate on Feb.
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The Fed's benchmark overnight lending rate currently is within a range of 2.25 percent to 2.50 percent.
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The People's Bank of China (PBOC) is also likely to lower its key lending rate on Feb.
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China on Tuesday unveiled its new reference lending rate for banks to set rates on new loans.
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An adviser to the central bank said the chance of a benchmark lending rate cut on Feb.
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The overnight lending rate was kept at 9.25 percent and the overnight borrowing rate at 7.25 percent.
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She added that a Fed funds overnight lending rate of 1 percent would still be considered accommodative.
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ZIMBABWE FINANCE MINISTER NCUBE SAYS OVERNIGHT LENDING RATE OF 50% TEMPORARY, WILL COME DOWN IN FEW MONTHS
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However, major banks such as HSBC and Standard Chartered later left the city's prime lending rate unchanged.
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CHINA C.BANK SAYS WEIGHTED AVERAGE LENDING RATE FELL 4 BASIS POINTS IN THIRD QUARTER TO 5.62 PERCENT
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The PBOC's benchmark one-year lending rate stands at 4.35%, and it hasn't changed since October, 2015.
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The central bank's key overnight lending rate is now in a target range of 1.00% to 1.25%.
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The Bank of Indonesia cut its short-term lending rate by a quarter percentage point last week.
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Policymakers have cut the benchmark lending rate twice this year, in March and July, to 9.0 percent.
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That has helped to nudge up the benchmark 3-month interbank lending rate to around 1.7 percent.
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ZAMBIA - Policy makers raised the country's benchmark lending rate by 212 basis points to 212018% on Nov.
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ZAMBIA - Policy makers raised the country's benchmark lending rate by 213.5 basis points to 212% on Nov.
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The funds market is where traders bet on where the Fed's benchmark overnight lending rate will land.
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That money could become even cheaper should the benchmark lending rate be cut again on Feb. 21965.
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The one-year rate, for example, is currently just below the benchmark one-year lending rate of 4.35%.
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MALAWI - Malawi's central bank cut its benchmark lending rate by 100 basis points on May 3 to 16.753%.
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ANGOLA - Angola's central bank cut its benchmark lending rate by 15.753 basis points to 15.5% on May 24.
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MALAWI - Malawi's central bank cut its benchmark lending rate by 215.75 basis points on May 16.753 to 216.75%.
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It was 0.2.00 basis points lower than the People's Bank of China's existing benchmark one-year lending rate.
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Under the previous system, banks priced loans from a one-year lending rate set by the central bank.
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It was 10 basis points lower than the People's Bank of China's existing benchmark one-year lending rate.
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The overnight lending rate was cut by 150 basis points to 15.25%, the bank said in a statement.
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The bank kept its overnight deposit rate at 14.75 percent and its overnight lending rate at 15.75 percent.
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The Fed last hiked its key overnight lending rate in December, just the second such move since 2006.
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The MCLR is a new methodology of setting lending rate by commercial banks that was introduced in December.
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The one-year LPR currently stands at 4.31 percent, versus benchmark one-year lending rate of 4.35 percent.
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The bank kept its overnight borrowing rate at 7.25 percent and its overnight lending rate at 10.75 percent.
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ANGOLA - Angola's central bank cut its benchmark lending rate by 25 basis points to 15.5% on May 24.
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MALAWI - Malawi's central bank cut its benchmark lending rate by 27.75 basis points on May 26.75 to 219%.
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The overnight lending rate was kept at 9.25 percent and the overnight borrowing rate remained at 7.25 percent.
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Last month, the U.S. central bank raised its benchmark overnight lending rate for the second time this year.
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It is the fifth time in a row that the bank has left its key lending rate unchanged.
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This is also an effective rate of 2.25 percent, as Standard Chartered's best lending rate is 5.25 percent.
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Banxico is forecast to hold the key lending rate at 8.25%, the level it has maintained since Dec.
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UGANDA - Policymakers in Uganda raised the key lending rate by 100 basis points to 10 percent on Oct.
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The Fed's benchmark overnight lending rate now sits in a target range of 1.50 percent to 1.75 percent.
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The central bank last reduced its benchmark lending rate to a range between 2% and 2.25% in July.
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Typically, the loans charge an interest rate that's a percentage point or two above the prime lending rate.
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That's slightly lower than its existing benchmark one-year lending rate of 4.35%, which hasn't changed in years.
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HSBC announced hours after the HKMA decision that it was keeping its benchmark best lending rate at 5.125%.
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Beijing cut its benchmark lending rate to support an economy hit by the epidemic, keeping Chinese stocks supported.
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The overnight lending rate spiked to a high of 10% on Tuesday before the NY Fed stepped in.
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The central bank is gradually replacing its existing fixed benchmark lending rate, with a new Loan Prime Rate.
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The Fed's decision left its benchmark overnight lending rate in a range of 1.75 percent to 2.00 percent.
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It cut the overnight lending rate - the top of its interest rate "corridor" - to 10 percent from 10.5 percent.
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"The new system itself doesn't guarantee the actual lending rate will be lower," Goldman Sachs said in a report.
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So if the yield curve is too flat then what would happen to the lending rate or bond prices?
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Markets expect the U.S. central bank to reduce its overnight lending rate amid signs the global economic is slowing.
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They did not expect a hike in China's benchmark lending rate, which has been unchanged for nearly two years.
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The Fed voted to reduce its benchmark lending rate a quarter point to a range of 2% to 2.25%.
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"We don't encourage banks to set their interest rates for small enterprises below the benchmark lending rate," Li said.
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The average prime lending rate edged up 24 basis points to 10.47 percent in the week ended June 10.
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The Japanese overnight call rate, which is the benchmark lending rate between banks, fell to negative levels on Wednesday.
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The average lending rate for small firms fell to 6.16 percent in January from 6.37 percent a year earlier.
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TD also said it would raise its prime lending rate by 25 basis points to 3.2 percent, effective Thursday.
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S. trade deal and China's move to trim a closely watched lending rate kept investor optimism afloat, underpinning prices.
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The Fed left its benchmark lending rate and the discount rate unchanged at its July 31 - Aug 1 meeting.
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The prime lending rate is used by banks to set interest rates for variable-rate mortgages and other loans.
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But they do not expect it to cut its benchmark lending rate, as it repeatedly did in past downturns.
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The average prime lending rate edged up 13 basis points to 10.47 percent in the week ended June 10.
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The bank also cut its lending rate facility to 2.50% from 3.50%, while holding its deposit rate at 1.50%.
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It cut its lending rate to 4% from 4.25% Reporting by Aziz El Yaakoubi and Asma Alsharif, writing by
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The Fed funds futures market is where traders bet on where the Fed's benchmark overnight lending rate will land.
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Markets widely expect the Fed to cut the overnight lending rate for a third time at its October meeting.
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The Fed left its benchmark overnight lending rate in a target range of between 1.50 percent and 1.75 percent.
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Hong Kong (CNN Business)Asian markets were mixed Friday while China held steady on its new benchmark lending rate.
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The lowering of rates may lead to a reduction in lending rate as well in the next few days.
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But for the first time in seven years, the Bank of Canada this week raised its benchmark lending rate.
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Investors have already priced in a 75-basis-point cut in the U.S. central bank's key overnight lending rate.
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We expect officials to step up policy easing in response, including benchmark lending rate cuts and off-budget fiscal stimulus.
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The MPC kept the overnight deposit rate at 9.25 percent and the overnight lending rate at 10.25 percent, it said.
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The average prime lending rate (AWPR) edged up 8 basis points to 10.23 percent in the week ended June 3.
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The yuan was also modestly pressured after the People's Bank of China (PBOC) set its new lending rate slightly lower.
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It kept the overnight lending rate, the highest of the multiple rates it uses to set policy, at 8.25 percent.
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The Fed currently expects to continue raising rates until its benchmark overnight lending rate is around 3.40 percent in 2020.
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M&T Bank announced on Wednesday that it would increase its prime lending rate to 4 percent from 3.75 percent.
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The average prime lending rate (AWPR) edged up 15 basis points to 10.15 percent in the week ended May 27.
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GABORONE, Oct 17 (Reuters) - Botswana's central bank left its benchmark lending rate at 5.5 percent, the regulator said on Monday.
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The bank also stuck to its overnight borrowing rate at 7.25 percent and its overnight lending rate at 10.75 percent.
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ANZ analysts estimate the average lending rate has edged up by around 30 basis points in the past few months.
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Investors expect the U.S. central bank to cut its overnight benchmark lending rate at its July 21-2.65.13 policy meeting.
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Interest on ELA are 1.25 percent, compared with the zero percent main refinancing rate and 0.25 percent marginal lending rate.
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Kasikornbank is among the top four lenders that cut their minimum lending rate (MLR) by 25 bps on April 5.
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It charged a 1.42 percent performance fee, using the same euro interbank lending rate, Euribor 3 EURIBOR3MD=, as its benchmark.
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The Fed's benchmark overnight lending rate is currently set in a target range of between 1.75 percent and 2.00 percent.
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The Fed has lifted its benchmark overnight lending rate, the federal funds rate, twice since the end of the recession.
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The new interest rate for deposits would be 0.25 percent and the one-day lending rate would be 2.75 percent.
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Fed rates have been steadily rising since 2015 to a target fed funds overnight lending rate of 2.25% to 2.50%.
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Following a cut in late October, the Fed's benchmark lending rate is in a targeted range between 1.5% and 1.75%.
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A 25 basis point reduction would bring the Fed's benchmark overnight lending rate to a range between 1.75% and 2%.
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Banxico cut its main lending rate by 25 basis points to 8.0% last month, the first reduction since June 2014.
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The central bank held its overnight deposit rate steady at 12.25% and its overnight lending rate at 13.25% on Feb.
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The central bank is gradually replacing its existing fixed benchmark lending rate, with a new Loan Prime Rate, starting Tuesday.
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CHINA CBANK SAYS IN A JOINT STATEMENTIT WILL APPROPRIATELY LOWER LENDING RATE TO SUPPORT RELEVANT FIRMS AFFECTED BY VIRUS OUTBREAK
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The U.S. Federal Reserve slashed its benchmark overnight lending rate to a target range of 1.75% to 2% in September.
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China's central bank extended loans through its medium-term lending facility (MLF) on Wednesday while keeping the lending rate unchanged.
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The Fed is expected to lower its benchmark overnight lending rate by a quarter point at this week's FOMC meeting.
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The central bank last month held its benchmark lending rate steady at 8.25 percent, the highest level in over 10 years.
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As widely expected, the Federal Open Market Committee kept its benchmark overnight lending rate target at 0.5 percent to 0.75 percent.
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The Fed is expected to hike its benchmark overnight lending rate for a fourth and final time of 24 on Wednesday.
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The bank lowered the overnight lending rate - the highest of the multiple rates it uses to set policy - to 9.5 percent.
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Societe Generale believes the reform could lead to a more modest 20.873-25 bps cut in the new benchmark lending rate.
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Yet Fed officials still projected the targeted overnight lending rate to remain in a range of 2.25% to 2.503% this year.
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The bank maintained a 3.25% prime lending rate for the next seven years, eventually raising it to 3.5% in December 2015.
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The central bank held its overnight deposit rate at 15.75% and its overnight lending rate at 53%, a bank statement said.
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The central bank is widely expected to cut its benchmark lending rate for the first time in more than 10 years.
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Economists polled by Reuters expect the benchmark lending rate to remain in a target range of 2111.80 percent to 1.25 percent.
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It also cut the 2.1 percent overnight lending rate to 1.45 percent, narrowing the corridor between its highest and lowest rates.
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On Wednesday, the central bank kept its benchmark lending rate at 20183 percent, saying inflation expectations remain within the target range.
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Traders and economists expect the benchmark Selic overnight lending rate, now at 13 percent, to end the year in single digits.
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At the end of last month, the U.S. Federal Reserve cut its main lending rate for the first time since 2008.
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Last week, the development bank said it would introduce a new benchmark lending rate pegged to yields on inflation-linked bonds.
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They also said that they would raise the cap for Hibor-linked mortgages to their best lending rate minus 2.65 percent.
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RBC said on Wednesday that it would increase its prime lending rate by 25 basis points to 3.2 percent, effective Thursday.
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They forecast the overnight lending rate to drop to 16.50 percent by the end of this fiscal year from 19.75 currently.
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Zimbabwe hiked its overnight lending rate to 50% last month after making its interim RTGS currency the country's sole legal tender.
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On Friday, the Bank of Canada lowered its key lending rate and in February the federal government relaxed mortgage qualification rules.
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Such a move would take the key fed funds overnight lending rate to a financial crisis low range of 2854%-2701%.
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ABUJA, March 24 (Reuters) - Nigeria's central bank held its benchmark lending rate at 13.5%, the central bank governor said on Tuesday.
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The U.S. central bank left the benchmark overnight lending rate in its current, historically low, target range between 218% and 21.580%.
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On Monday, the central bank cut the benchmark lending rate for the second meeting in a row, to 8.25% from 8.50%.
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The central bank held its overnight deposit rate at 13.25% and its overnight lending rate at 12.25%, a bank statement said.
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As a result, the commercial banks' average weighted prime lending rate (AWPR) has fallen 20193 basis points as of Oct. 2.
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The FOMC announced that it would take down its benchmark overnight lending rate to a target range of 1.75% to 2%.
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On Wednesday, the Federal Reserve cut its benchmark overnight lending rate by 25 basis points, its second such move in 2019.
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Such a move would take the key fed funds overnight lending rate to a financial crisis low range of 0%-0.25%.
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SOUTH AFRICA - The South African Reserve Bank hiked its benchmark lending rate for the first time in nearly three years on Nov.
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Recent lending rate cuts by big commercial banks have given policymakers "more breathing room", said Thammarat Kittisiripat, economist of KT Zmico Securities.
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The interbank lending rate averaged 13% in May 2017, 23bp higher than in April 2017 and 78bp higher than in May 2016.
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The overnight deposit rate remained at 18.75 percent and the overnight lending rate at 19.75 percent, the bank said in a statement.
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The central bank's benchmark overnight lending rate, or fed funds rate, is currently in a range of 1.75 percent to 2.00 percent.
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LUANDA, Oct 2 (Reuters) - Angola's central bank kept its benchmark lending rate unchanged at 16 percent following a policy meeting on Sept.
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The Fed is widely expected to hike its benchmark overnight lending rate for a fourth and final time of 2018 on Wednesday.
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Traders were also cautious ahead of the debut of China's new benchmark lending rate on Tuesday, which was announced at the weekend.
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Until recently, policymakers felt the Fed's benchmark overnight lending rate still acted as a boost for an economy that didn't need boosting.
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This forced banks to resort to its overnight lending rate of 8.5 percent interest or its late liquidity window at 10 percent.
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The one-year rate for the MLF last stood at around 3.3% — lower than the central bank's benchmark lending rate of 4.35%.
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The FOMC slashed the target range for its overnight lending rate to 03% to 2.25% — 25 basis points below the previous level.
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The Fed has raised its benchmark overnight lending rate twice this year and forecasts one more rise before the end of 2017.
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After four 33% hikes last year, the target range for the fed funds overnight bank lending rate stands at 2.25% to 2.5%.
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Investors are eyeing the Fed's July 30-1.33 policy meeting at which it is expected to cut its overnight benchmark lending rate.
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The overnight deposit rate was held at 15.75% and the overnight lending rate at 16.75%, the central bank said in a statement.
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The measure was undertaken to lower long-term lending rates after the Fed had dropped its benchmark overnight lending rate to zero.
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The seven-member board decided to maintain the lending rate at 7.75 percent, as predicted unanimously by analysts in a Reuters survey.
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Turkey tried to defend its currency through rate hikes, bringing its overnight lending rate to 24 percent from 8 percent in 2018.
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Although inflation slowed in the first half of January, the board is still expected to raise its benchmark lending rate in February.
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In Asia, optimism was fueled by the People's Bank of China's first cut in its medium-term lending rate since early 232.
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At the end of last month, the U.S. Federal Reserve cut its benchmark overnight lending rate for the first time since 2008.
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The current target range for the fed funds overnight lending rate is 2.25% to 2.5% following four Fed rate increases last year.
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LUANDA, Nov 2 (Reuters) - Angola's central bank kept its benchmark lending rate unchanged at 16 percent following a policy meeting on Nov.
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Standard Chartered said it would also raise its prime rate-linked new mortgage rate to the best lending rate minus 3 percent.
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It also said it would raise the cap for Hibor-linked new mortgages to Standard Chartered's best lending rate minus 2.9 percent.
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At its previous meeting in May, the U.S. central bank expressed confidence in the economy and kept its benchmark lending rate unchanged.
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Banks' average lending rate for working capital loans was 12.48 percent as of December 2015, according to the Financial Services Authority (OJK).
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After a surprise rate increase in November, policymakers have held the benchmark lending rate at 0.25 percent at the subsequent three meetings.
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In September, the Fed lowered its benchmark overnight lending rate to a target range of 1.75% to 2%, from 2% to 2.25%.
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The Federal Reserve lowered interest rates three times last year, landing the overnight lending rate to a range between 1.5% and 1.75%.
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LUANDA, Jan 31 (Reuters) - Angola's central bank kept its benchmark lending rate unchanged at 16 percent after a policy meeting on Jan.
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It hasn't helped their mood (or Mr. Trump's) that the Fed decided to raise its target lending rate four times in 2018.
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The central bank, whose benchmark lending rate is now 10.50 percent, had urged banks to lower rates but did not set a cap.
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In late December, the Fed hiked again, taking the bank's key overnight lending rate to a range of 2.25 percent to 2.50 percent.
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The Fed raised key overnight lending rate rates by 21.1429 percent point as expected to a range of 21.14395 percent to 2.50 percent.
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According to sources, the People's Bank of China is likely to lower its key lending rate - the loan prime rate (LPR) - on Feb.
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According to sources, the People's Bank of China is likely to lower its key lending rate - the loan prime rate (LPR) - on Feb.
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The Federal Open Market Committee unanimously decided to keep its lending rate in a target range of between 1.50 percent and 523 percent.
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But seven predicted a cut in the overnight lending rate, the upper band of the central bank's rate corridor, currently at 10.75 percent.
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With risks to growth mounting, China's central bank is likely to lower its key lending rate - the loan prime rate (LPR) - on Feb.
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In December the central bank raised its overnight deposit rate and lending rate by 0.50 percentage points to 3.83 percent and 10.25 respectively.
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Hungary's central bank also cut the 1.45 percent overnight lending rate to 1.3 percent, narrowing the corridor between its highest and lowest rates.
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Investors also are eyeing the Fed's July 30-1.33 policy meeting at which it is expected to cut its overnight benchmark lending rate.
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The second batch is likely on rental housing, a segment that is currently supported by with favourable land price and lending rate policies.
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The average lending rate in June was about 21 percent, compared with 25 percent in February last year, according to central bank data.
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As broadly expected by investors, the Fed maintained its benchmark lending rate and said it was continuing the slow path of monetary tightening.
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The U.S. Federal Reserve is widely expected to cut its benchmark lending rate for the first time since 2008 by 25 basis points.
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However, it left its overnight lending rate at 9.25 percent, contrary to the expectations of a hike from nearly half the economists polled.
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The Fed raised key overnight lending rate rates by 20.7085 percent point as expected to a range of 20.7116 percent to 218 percent.
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Why wouldn't they just skip right to the rate LendingClub would have given you, or even skip to the best "marketplace lending" rate?
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Now it has lowered the rate again, to -20.1%, while also cutting its main lending rate from an already nugatory 21.0% to zero.
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The 225 percent lending rate is the highest level since March 26.5, after an increase of 125 points over its last four meetings.
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The weighted average lending rate for the non-financial corporate sector was 5.96 percent in March, according to the latest monetary policy report.
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He noted the current official overnight lending rate of 4.75 percent was only half a percentage point below its level 10 years ago.
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The Fed voted to raise its benchmark short-term lending rate a quarter point at the meeting, the second such increase since December.
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Even so, the central bank continues to publish its old benchmarks, though the lending rate has been left unchanged at 4.35% since 2015.
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The Fed raised key overnight lending rate rates by 26.902 percent point as expected to a range of 20.1 percent to 26.915 percent.
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The U.S. Federal Reserve has signaled that it will continue to raise rates after it lifted the key lending rate on Sept. 26.
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The Fed raised key overnight lending rate rates by 25 basis points as expected to a range of 2.25 percent to 2.50 percent.
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The Fed raised key overnight lending rate rates by 0.25 percent point as expected to a range of 2.25 percent to 20.3 percent.
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Feicheng's loans were extended by eight years at a concessionary interest rate of 3 percent, lower than the central bank's benchmark lending rate.
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The U.S. central bank aims to guide monetary conditions through the federal funds rate, which is the overnight lending rate between depository institutions.
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The central bank held its overnight deposit rate at 15.75 percent and its overnight lending rate at 16.75 percent, a bank statement said.
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It added that interest earned from loans with lending rate higher than 150 percent of benchmark rate will incur the current VAT policy.
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The Fed currently targets its benchmark overnight lending rate in a range between 2% and 2.25%, the highest of any G-7 nation.
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The bank's monetary policy committee cut the overnight lending rate to 10.25% from 13.25% and the overnight deposit rate to 9.25% from 12.25%.
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China plans to replace its existing benchmark lending rate with a more market-driven interest rate system, the bank said in its statement.
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Since then, the Fed has reversed its cycle of interest rate hikes and instead has cut the overnight lending rate twice in 2019.
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It left its benchmark repo rate at 8 percent, its overnight lending rate at 9.25 percent and overnight borrowing rate at 7.25 percent.
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The Gulf Arab state central bank cut the lending rate to 4.25%, the repo rate to 2% and the deposit rate to 2%.
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The seven-member board will probably maintain the lending rate at 7.75 percent after raising it 325 basis points over 11 consecutive months.
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August's cut was the bank's first since February and left the overnight deposit rate at 14.25% and the overnight lending rate at 15.25%.
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The projection comes after Brazil's Congress created market-based benchmark lending rate for BNDES, in a bid to reduce government subsidies for loans.
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The board reduced the lending rate by 25 basis points, meeting expectations of the majority of analysts in a Reuters survey last week.
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The Fed said it would lower its benchmark overnight lending rate to a target range of 1.75% to 2%, from 2% to 2.25%.
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It cut the overnight lending rate, the highest of the multiple rates it uses to set policy, by 25 basis points to 8.5 percent.
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U.S. stocks sank Wednesday in a wild session after the Federal Reserve raised its benchmark overnight lending rate for the fourth time this year.
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The Federal Open Market Committee — the central bank's policy-making arm — kept its benchmark overnight lending rate target at 0.5 percent to 0.75 percent.
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Integration - Stronger: SBC consistently receives financial government support through loans and contributions, which covers the gap between SBC's lending rate and its funding costs.
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The sell-off in the stock market deepened after the Federal Reserve hiked its benchmark overnight lending rate by a quarter point on Wednesday.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 22 basis points in the first quarter.
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The bank held fire again, and also stuck to its overnight borrowing rate at 7.25 percent and its overnight lending rate at 10.75 percent.
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Rabobank analysts predicted rates to rise around 2130 bps, taking the main rate to 2017 percent and the overnight lending rate to 2 percent.
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Anemic price pressure can be problematic for the Fed, as some members of the central bank hope to resume hiking its benchmark lending rate.
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Reuters reported the People's Bank of China is mulling over lowering reserve requirement ratios for banks as well as cutting a key lending rate.
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It left the benchmark repo rate at 8 percent, the overnight lending rate at 12.753 percent and the overnight borrowing rate at 7.25 percent.
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Tuesday's announcement marked the second straight week in which the central bank used the seven-day interbank lending rate as its benchmark policy rate.
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The Reserve Bank of India lowered its benchmark lending rate by 0.35 percentage point to 5.4%, the central bank's fourth rate reduction of 2019.
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Fed policymakers lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 0.223 percent to 2.25 percent.
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The five major commercial banks, led by Royal Bank of Canada, raised their prime lending rate to 23 percent from 2.7 percent, effective Thursday.
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The Fed's committee hiked the overnight lending rate four times in 2018; it is currently in a range between 225 and 250 basis points.
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The central bank's benchmark lending rate for loans longer than 5 years, currently at 4.9 percent, is typically used to set floating-rate mortgages.
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Fifteen of the 18 economists had forecast a hike in the lending rate, which is the upper band of the bank's interest rate corridor.
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The Bank of Mexico (Banxico) is expected to hold the key lending rate at 8.25 percent, the level it has been at since Dec.
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In Asia, optimism was helped by the People's Bank of China's cut in its a medium-term lending rate, the first since early 20.308.
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The Fed's rate setting committee met Wednesday to make the latest tweak in the federal funds rate, a key benchmark lending rate for banks.
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KAMPALA, Aug 11 (Reuters) - Uganda's central bank left its key lending rate unchanged at 10 percent on Friday, saying economic activity was picking up.
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It cut the overnight lending rate, the highest of the multiple rates it uses to set policy, by 25 basis points to 8.75 percent.
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Rates have been widely expected to rise, as the Federal Reserve increases its lending rate and pulls back its investments in mortgage-backed bonds.
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MAPUTO, Dec 14 (Reuters) - Mozambique's central bank left its benchmark lending rate at 23.25 percent on Wednesday, its governor Rogerio Zandamela said on Wednesday.
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The increase of the bank's lending rate from 0.25 percent to 0.50 appeared small enough that few expected it to pack substantial economic consequences.
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As central banks worldwide slash interest rates, though, the People's Bank of China on Friday kept its new benchmark lending rate unchanged on Friday.
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Central bankers are widely expected to cut the fed funds overnight bank lending rate by a quarter point for the second time this year.
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The Fed lifted its benchmark overnight lending rate by a quarter of a percentage point to a range of 2.00 percent to 2.25 percent.
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The inter-bank lending rate that has been at the heart of a price-fixing scandal is to be killed off within 4 years.
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The bank has increased its key lending rate three times since last July, and financial markets expect the next increase to come in July.
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The Fed's key overnight lending rate is now set in a range of 1.75% to 2.00%, half a percentage point below its recent peak.
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The Fed's policy-setting committee announced its unanimous decision to maintain the key overnight lending rate in a range of between 1.50% and 1.75%.
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China cut its benchmark lending rate on Thursday to soften the virus' impact on its economy and is likely to roll out more measures.
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China is expected to cut its benchmark lending rate on Thursday as it attempts to limit the damage from business shutdowns and travel curbs.
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China cut its benchmark lending rate on Thursday to soften the virus' impact on its economy and is likely to roll out more measures.
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Other major regional markets were broadly higher after the Chinese central bank cut a key lending rate, making it cheaper for companies to borrow.
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But with the main lending rate at -0.35 percent and the Riksbank pumping money into the economy by buying bonds, it faces a quandary.
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The U.S. central bank is expected to cut the overnight lending rate by 25 basis points at the conclusion of its meeting on Wednesday.
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Economists polled by Reuters earlier this year expected China would keep its benchmark lending rate steady through at least the second quarter of 2018.
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Fed policymakers boosted the benchmark overnight lending rate by a quarter of a percentage point to a range of 2.00 percent to 2.25 percent.
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The South African Reserve Bank raised its benchmark lending rate by 50 basis points last year, and some analysts expect another increase on Jan.
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The central bank's monetary policy committee cut its benchmark lending rate by 50 basis points in March, saying economic growth was well below its potential.
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The weighted average lending rate for companies and home buyers edged up 5 basis points in the first quarter to 5.69%, central bank data showed.
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The Fed decided to hike its benchmark overnight lending rate by one quarter point on Wednesday to a target range between 2.25 to 2.5 percent.
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The moves Thursday came one day after the Fed decided to hike its benchmark overnight lending rate by one quarter point in the prior session.
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The Ugandan shilling is seen trading with a broadly strengthening tone after the central bank hiked its benchmark lending rate amid worries over inflationary pressures.
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As broadly expected by investors, the U.S. central bank maintained its benchmark lending rate and said it was continuing the slow path of monetary tightening.
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Fed officials, though, still projected the targeted overnight lending rate to remain in a range of 2.003% to 2.50% for the rest of this year.
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Bullard has said he favors a single hike in the federal funds overnight lending rate to 0.63 percent and a hold for about 2 ½ years.
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Rather than keep the overnight lending rate high to afford central banks room to cut during a future crisis, Williams advocated for more preemptive measures.
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The central bank is widely expected to cut its overnight lending rate later this month amid persistent global growth fears, trade turbulence and lagging inflation.
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Fed officials, though, still projected the targeted overnight lending rate to remain in a range of 2.25% to 2.50% for the rest of this year.
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Rajan said on Tuesday that factors including the new marginal cost of funds based lending rate (MCLR) and Tuesday's measures should improve transmission going forward.
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The bank lowered its deposit rate to 15.75% from 16.75 and its lending rate to 16.75% from 17.75%, its first rate cuts since March 2018.
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At its last meeting in September, the bank cut its lending rate to 10.0 percent from 10.5 percent, in a bid to spur credit growth.
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The bank cut the overnight lending rate, the highest of the multiple rates it uses to set policy, by 25 basis points to 8.25 percent.
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The overnight lending rate jumped last week to as high as 100 percent intraday after the central bank tightened liquidity to support the naira currency.
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The new comments on Wednesday came just months after central bankers suggested that two hikes to the overnight lending rate could be appropriate in 2019.
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Most analysts polled by Reuters project the bank will leave its lending rate stable at 4.75 percent, while the minority estimated a 25 point reduction.
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Indian banks price their benchmark loan rates, known as the marginal cost of funds based lending rate (MCLR), mainly based on the cost of deposits.
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The U.S. central bank raised the discount rate by a quarter percentage point to 2 percent and increased its benchmark lending rate at its Dec.
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All but two of the economists expect the bank to hike its overnight lending rate, currently at 8.5 percent, by between 50-150 basis points.
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Less than one-third of the 115 IPOs priced since the start of 2007 yielded returns above Brazil's interbank lending rate, Thomson Reuters data showed.
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LUANDA, Dec 29 (Reuters) - Angola's central bank kept its benchmark lending rate unchanged at 16 percent, it said on Thursday, citing falls in headline inflation.
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The Fed raised interest rates three times in 2017 and its benchmark lending rate is currently in a range of 1.25 percent to 1.50 percent.
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Wednesday's rate increase, the fourth of the year, pushed the central bank's key overnight lending rate to a range of 22.0 percent to 22020 percent.
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The Fed is widely expected to cut the overnight lending rate 25 basis points amid lukewarm inflation readings and the threat of global economic slowdown.
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The central bank is widely expected to reduce the overnight lending rate again at their September meeting next week amid fears of global economic slowdown.
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For example, State Bank of India (SBI), the country's largest lender by assets, has cut its benchmark lending rate by only 30 bps since February.
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The bank has also said it cut its lending rate facility to 2.50% from 3.50% previously, and kept its deposit rate at 1.50%, it said.
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Earlier this month, central bank cut its key lending rate for the first time since June 2014, lowering it by 25 basis points to 8.00%.
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It cut its benchmark lending rate by 100 basis points to 7.25% and lowered the cash reserve ratio for commercial banks to 4.25% from 5.25%.
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It cut the overnight lending rate to 10.25% from 13.25% and the overnight deposit rate to 9.25% from 12.25%, the bank said in a statement.
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HONG KONG, March 4 (Reuters) - HSBC maintains its best lending rate in Hong Kong unchanged at 5%, the bank said in a statement on Wednesday.
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The government capped commercial lending rates at 400 basis points above the central bank's lending rate last September, hurting already stressed private sector credit growth.
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The decision by the U.S. central bank's rate-setting committee left the benchmark overnight lending rate in its current target range between 23.5% and 20213%.
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The decision by the U.S. central bank's rate-setting committee left the benchmark overnight lending rate in its current target range between 1.50% and 1.75%.
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The bank cut its overnight deposit rate to 16.75 percent from 17.75 percent and its overnight lending rate to 17.75 from 18.75 percent, it said.
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Also aiding sentiment, China cut the benchmark lending rate, as widely expected, to help companies whose businesses have been badly disrupted by the coronavirus outbreak.
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A cut in China's benchmark lending rate on Thursday helped Chinese stocks find footing but did little to calm anxiety around the fast-spreading virus.
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KENYA - The central bank cut its benchmark lending rate by 1923 basis points to 1913%, its first reduction in more than a year on Nov.
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"All the retail loans now, as per the regulatory guidelines, they all have been linked to what we call external benchmark lending rate," Kumar said.
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KENYA - The central bank cut its benchmark lending rate by 1933 basis points to 1923%, its first reduction in more than a year on Nov.
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MEXICO CITY (Reuters) - Mexico's central bank is expected to hold its key lending rate steady on Thursday after peso gains tamed concerns about higher inflation.
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The deposit rate at 0.1 percent is the "floor" of the interest rate corridor now while the lending rate at 2.1 percent is the top.
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The U.S. central bank also maintained its benchmark lending rate and suggested it was on course to stick to its slow path of monetary tightening.
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It has raised interest rates twice this year and still predicts another push upwards in the benchmark overnight lending rate by the end of 2017.
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The U.S. Fed on Wednesday lowered its benchmark overnight lending rate by a quarter of a percentage point to a range of 1.75% to 2.00%.
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This month, policymakers cut the benchmark lending rate by 50 basis points to 11 percent to speed up private sector credit flow and boost flagging growth.
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The Fed raised its benchmark overnight lending rate four times in 2018 as a part of its goals of maximizing employment and keeping prices in check.
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ZAMBIA - The central bank in Lusaka raised the benchmark lending rate to 10.25% from 9.75% on May 22 to counter inflationary pressure and support macroeconomic stability.
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The Fed kept its target overnight lending rate near zero for seven years and raised just twice since — in December 2015 and again a year later.
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Less than one-third of the 115 IPOs priced since the start of 2007 yielded returns above Brazil's interbank lending rate, according to Thomson Reuters data.
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The weighted average lending rate for companies and home buyers edged up 5 basis points in the first quarter to 5.69 percent, the central bank said.
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The next time their benchmark lending rate hits zero, as it did a decade ago, should they follow rapidly with, say, $5 trillion of bond buying?
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The seven-member board decided to boost the lending rate by 25 basis points, meeting the forecast of analysts in a central bank survey last week.
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MAPUTO, May 13 (Reuters) - Mozambique's central bank left its benchmark lending rate at 12.75 percent on Friday, its monetary policy committee said on the bank's website.
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The economists expect the PBOC to keep its benchmark lending rate unchanged at 4.35 percent through at least the end of 2020, the Reuters poll showed.
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On Wednesday, the Fed left its benchmark overnight lending rate in a target range of between 1.50 percent and 109.653 percent as had been widely expected.
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The overnight yuan lending rate surged to 13 percent in morning trade, the highest level since January when the rate jumped to more than 60 percent.
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DoubleLine Capital CEO Jeffrey Gundlach says the Fed is losing control of rates, citing as evidence the fed funds overnight lending rate of 2% to 2.25%.
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The Fed cut its key overnight lending rate at its last policy meeting in July, and officials have cited global factors as weighing on that decision.
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But the LPR reacted little to market demand and supply, with the one-year rate hovering just under the benchmark one-year lending rate of 4.35%.
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OCBC's Xie said the move is a "half step" toward interest rate liberalization, and the link to the medium-term lending rate may only be temporary.
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But by the end of 2017, the central bank is expected to trim its main lending rate to 8.25 percent from 9 percent, the poll showed.
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However, the bank raised both the one-month rate, to 1.25 percent from 1 percent, and the lending rate (repo), to 2.5 percent from 2.25 percent.
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At the meeting, the Federal Reserve appeased the markets by cutting the target range for its overnight lending rate 25 basis points, to 2% to 2.25%.
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State Bank of India, the country's biggest lender by assets, cut its benchmark lending rate by 15 bps across all tenors shortly after the policy announcement.
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While the RBI has cut rates by 75 bps since the start of 2019, banks have only eased their key lending rate by 15-20 bps.
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It raised its benchmark overnight lending rate three times last year, to a range of 1.25 to 1.50 percent, as joblessness fell and economic growth accelerated.
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Most analysts do not expect China to cut its benchmark lending rate unless economic conditions deteriorate sharply, which would risk adding to a mountain of debt.
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ZAMBIA - The central bank in Lusaka raised the benchmark lending rate to 10.25% from 9.75% on May 22 to counter inflationary pressure and support macroeconomic stability.
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GABORONE, Feb 13 (Reuters) - Botswana's central bank left its benchmark lending rate unchanged at 5 percent on Tuesday, saying the outlook for price stability was positive.
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Bankers have said they do not expect any significant impact on margins from the new lending rate structure, which is based on marginal cost of funds.
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U.S. Bancorp was the first major bank that announced Wednesday that it would increase its prime lending rate to 4.25 percent from 4 percent, effective Thursday.
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Policymakers held the benchmark lending rate at 10.0 percent for the third time in a row on Monday, saying there was no demand-driven inflation risk.
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The seven-member board decided to boost the lending rate to 6 percent, meeting the forecast of all 27 analysts in a Reuters survey this week.
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EST (1900 GMT), with investors widely expecting it to leave its benchmark overnight lending rate unchanged in a target range of 2.25 percent to 2.50 percent.
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We think there is scope for further lending rate cuts, but much will depend on the proportion of new deposits that remains in the banking system.
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China recently introduced the LPR as a tool to gradually replace its existing fixed benchmark lending rate and make it easier for companies to borrow money.
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Hong Kong's Monetary Authority, the city's de facto central bank, cut the base lending rate by 25 basis points on Thursday, following the Fed's move overnight.
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WASHINGTON (Reuters) - The Federal Reserve issued coordinated actions to combat the economic impacts of the coronavirus Sunday night, including cutting its key lending rate to zero.
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The Reserve Bank of India slashed its key lending rate to the lowest level in nine years in a bid to support the country's faltering economy.
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As a result, the commercial banks' average weighted prime lending rate (AWPR) fell 62 basis points between the last rate cut in August and Nov. 22.
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The bank cut its benchmark lending rate on Thursday, but broader concerns about the business impact of the fast-spreading virus led global equity markets lower.
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The policymaking Federal Open Market Committee has approved two reductions this year, bringing its benchmark overnight lending rate to a target range of 1.75% to 2%.
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Central bankers in late October cut their benchmark overnight lending rate a quarter point to a range of 1.5%-1.75%, the third such move in 2019.
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Few expect an increase in its benchmark lending rate — the governor said that the economy was further from reaching full capacity than the United States was.
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The fixed income moves came after the Fed cut the benchmark overnight lending rate by 25 basis points on Wednesday, its second such move in 323.
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Following its two-day policy meeting, the central bank said it would lower its benchmark overnight lending rate to a target range of 1.75% to 2%.
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CHINA RATE CUT: On Wednesday, the central bank cut its new benchmark lending rate for the third time since its debut in August, as widely expected.
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Following its two-day policy meeting, the central bank said it would lower its benchmark overnight lending rate to a target range of 22008% to 2%.
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China's central bank cut its medium-term lending rate on Monday, which also fanned expectations for a reduction in the country's benchmark loan prime rate (LPR).
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Oigara said that KCB and the industry at large welcomed recent pronouncements by government officials that it was a good time to revisit the lending rate caps.
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The Fed in December lifted its benchmark overnight lending rate to a range of 0.25 percent to 0.50 percent, its first rate hike in nearly a decade.
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The average lending rate in Aichi was 1.1% in the fiscal year ended March 2018, the lowest among all prefectures, according to research firm Teikoku Data Bank.
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But the Fed left its benchmark overnight lending rate in a target range of between 0.74733 percent and 1.75 percent as had been widely expected on Wednesday.
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SBI's one-year marginal cost of fund-based lending rate, or the MCLR, will come down to 8.25% per annum from 8.40% earlier with effect from Aug.
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But they do not expect a cut in the benchmark lending rate, which would risk adding to a mountain of debt left over from past stimulus campaigns.
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The Federal Reserve is one week away from its latest monetary policy decision on May 1, when it will decide whether to adjust the overnight lending rate.
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But China will not scrap the benchmark lending rate for the time being, said Liu, adding that policymakers still need time to observe effects of LPR reform.
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The overnight lending rate was cut by 22016 basis points to 22011%, the bank said in a statement after a meeting of its monetary policy committee (MPC).
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Investors are also looking ahead to the U.S. Federal Reserve's July 30-31 policy meeting, at which it is expected to cut its overnight benchmark lending rate.
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WINDHOEK, Feb 15 (Reuters) - Namibia's central bank left its benchmark lending rate unchanged at 7 percent on Wednesday, saying the level was appropriate to support economic growth.
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Kenyan banks have priced loans off the Kenyan Banks' Reference Rate (KBRR) since 2033, which currently stands at 14.5% with the average lending rate standing at 35300%.
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"We think that the bank will be monitoring global liquidity conditions and the trend in the lira for another cut in the overnight lending rate," he said.
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The U.S. Federal Reserve cut its overnight lending rate to a target range of 2.00% to 2.25%, citing concerns about the global economy and muted U.S. inflation.
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The bank's Monetary Policy Committee (MPC) kept the overnight deposit rate at 10.75 percent and the overnight lending rate at 11.75 percent, it said in a statement.
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Traders are also pricing in two more cuts to the benchmark lending rate to a range of 150 to 175 basis points by the end of 2019.
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The bank lowered its deposit rate to 15.75 percent from 16.75 and its lending rate to 16.75 percent from 17.75, its first rate cuts since March 2018.
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Analysts polled by Reuters expect Mexico's central bank to hold its key lending rate on Thursday, but increase it by 25 basis points in the fourth quarter.
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The repo rate was selected over the Overnight Bank Funding Rate (OBFR), an unsecured bank lending rate based on transactions in the federal funds and Eurodollar markets.
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Although a statement released by the institution noted a moderation in business investment, it said the bank still expects "further gradual increases " in the prime lending rate.
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WINDHOEK, Dec 7 (Reuters) - Namibia's central bank left its benchmark lending rate unchanged at 7 percent on Wednesday, saying the level was appropriate to support economic growth.
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The currency traded at 7.8475 against the U.S. dollar at 0343 GMT while a key lending rate that could push up borrowing costs climbed to new highs.
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PRETORIA, July 18 (Reuters) - The South African Reserve Bank cut its main lending rate by 25 basis points to 6.50 percent, citing a downward trend in inflation.
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"Banks could be falling due to fears that lending rate cuts may hurt their net interest margins," said Siddharth Purohit, a senior research analyst with Angel Broking.
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The U.S. central bank held the discount rate at 2-1/4 percent while also holding steady its benchmark lending rate at its May 1-2 meeting.
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Ma Jun, a central bank adviser, said on Monday that he expects China will eventually abolish its benchmark lending rate, but did not give a clear timeline.
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The Fed late last month cut its key overnight lending rate by a quarter of a percentage point to a target range of between 1.50% and 1.75%.
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Investors are also looking ahead to the U.S. Federal Reserve's July 0.33-20.3 policy meeting at which it is expected to cut its overnight benchmark lending rate.
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Bangkok Bank cut its minimum lending rate (MLR) by 25 basis points to 6.25 percent, effective on Wednesday, Bangkok Bank Executive Vice President Chaiyarit Anuchitworawong told Reuters.
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Investors are also looking ahead to the U.S. Federal Reserve's July 0.23-20.2 policy meeting, at which it is expected to cut its overnight benchmark lending rate.
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The central bank no longer considers the short-term Lebac yield as its benchmark interest rate, turning instead to the seven-day interbank lending rate in 2017.
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The bank lowered its deposit rate to 15.75 percent from 16.75 and its lending rate to 16.75 percent from 17.75, its first rate cuts since March, 2018.
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In other central bank-related news, the Bank of Canada raised interest rates by 25 basis points on Wednesday, taking the overnight lending rate to 1 percent.
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Nearly all analysts polled by Reuters on Monday predicted the Bank of Russia would hold its main lending rate at 11 percent when it meets on Friday.
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NAIROBI, Sept 18 (Reuters) - A Kenyan parliamentary committee on Wednesday rejected the finance ministry's request to scrap commercial lending rate caps, a document seen by Reuters showed.
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The central bank cut the benchmark lending rate on Thursday, as widely expected, as the authorities move to lower financing costs for businesses and support the economy.
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China, the world's second largest economy, cut its benchmark lending rate in an effort to lower costs for struggling businesses, as the epidemic disrupts global supply chains.
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The cut makes the lending rate "appropriate with Thailand's economic condition and helps lower financial costs" for business, Bangkok Bank Executive Vice President Chaiyarit Anuchitworawong told Reuters.
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China cut a key lending rate for the second consecutive month on Friday, following in the footsteps of the European Central Bank and the U.S. Federal Reserve.
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The drop may have reflected recent reductions in Brazil's benchmark Selic overnight lending rate as well as steps by banks to refinance looming debt maturities, analysts said.
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LUSAKA, Aug 10 (Reuters) - Zambia's central bank cut its benchmark lending rate by 150 basis points to 11 percent on Thursday, citing lower consumer inflation and weak growth.
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That means the central bank will probably remain cautious and refrain from cutting its main lending rate at its next monetary policy meeting on April 29, analysts predicted.
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The seven-member board voted unanimously to reduce the lending rate by 23 basis points, meeting expectations of the majority of analysts in a Reuters survey last week.
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Forward rate agreements this week were pricing in a nearly 80 percent chance of a 25 basis points rate cut to 6.5 percent in the benchmark lending rate.
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The local dollar hit the weaker end of its trading range at 7.85 per U.S. dollar, nudging up a key lending rate that could push borrowing costs higher.
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However, growth of 0.3 percent would represent a halving from the second quarter's pace and the Bank reiterated it could well cut its benchmark lending rate further soon.
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The average lending rate to small and micro firms fell to 6.16 percent in January from 6.37 percent a year earlier, another central bank official, Ruan Jianhong, added.
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That is important because if the Fed believes the neutral rate will rise, it may have to raise its benchmark overnight lending rate more to slow the economy.
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The benchmark rate sits in middle of the two, meaning that from Wednesday, the deposit rate will be 0.5 percent and the lending rate will be 3.0 percent.
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LAGOS, Jan 22 (Reuters) - Nigeria's interbank overnight lending rate fell 3.5 percentage points on Friday after the central bank injected naira deposits from commercial lenders into the market.
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The Fed decided at its two-day July meeting to cut its benchmark overnight lending rate by one quarter point to a target range of 2% to 2.25%.
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ET, with investors widely expecting it to leave its benchmark overnight lending rate unchanged but possibly acknowledge its intention to remain patient on further rate hikes this year.
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WINDHOEK, Aug 17 (Reuters) - Namibia's central bank left its benchmark lending rate unchanged at 7 percent on Wednesday, saying it was weary of putting pressure on the economy.
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The bank kept its main lending rate on hold at 11 percent, extending a pause in its monetary easing cycle as all economists polled by Reuters had forecast.
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The central bank's suspension of one-week repo auctions will cause the average cost of average funding to increase gradually to 25.5 percent, the bank's overnight lending rate.
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The central bank said it kept its overnight deposit rate at 53 percent and its overnight lending rate at 12.75 percent, in line with a Reuters poll forecast.
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But the LPR has been reacting little to market demand and supply, with the one-year rate currently at 4.31%, versus benchmark one-year lending rate of 4.35%.
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The U.S. central bank subsequently held its benchmark lending rate steady at its July 25-26 meeting and kept the discount rate unchanged at 1-3/4 percent.
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The Federal Open Market Committee's unanimous decision to keep its lending rate in a target range of between 7.13 percent and 27.27 percent offered fleeting relief to investors.
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But economists also expect the South African Reserve Bank to cut its main lending rate at a monetary policy meeting next week, a Reuters poll showed on Thursday.
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SHANGHAI, Nov 18 (Reuters) - China stocks ended Monday firmer, as investors hoped for more stimulus measures to shore up the slowing economy after a interbank lending rate cut.
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He wrote in a research note that China made a significant cut to that key lending rate last month, when the outbreak in China was much more serious.
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As expected, the U.S. central bank raised its key overnight lending rate by a quarter of a percentage point to a range of 2.25 percent to 2.50 percent.
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The Fed has pegged the overnight lending rate in a range between 2% and 2.25% — above zero, but well below levels that have prevailed during past economic expansions.
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The policymaking Federal Open Market Committee cut the central bank's benchmark overnight lending rate by 25 basis points in July, the first such move since the Great Recession.
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In a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept.
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Since Temer took office in April, the currency has rallied 15 percent and the benchmark interbank lending rate has fallen to a two-year low of 12.8 percent.
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Below are some fiscal and monetary policies put in place by the government and the central bank since the outbreak: ** China cut the benchmark lending rate on Feb.
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That helped the yuan to a six-month high of 6.8457 per dollar after the country's benchmark lending rate was held steady on Monday, leading gains across Asia.
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KAMPALA, Oct 7 (Reuters) - The Ugandan shilling was a touch weaker on Monday, after the central bank cut its key lending rate by 100 basis points to 9.0%.
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The Fed's targeted overnight lending rate is forecast to remain in the current range of 0.25 percent to 0.50 percent, according to a Reuters poll of 151 economists.
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In July, the Federal Open Market Committee cut the central bank's benchmark overnight lending rate by 25 basis points for the first time since the global financial crisis.
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Following its two-day policy meeting, the central bank announced that it would take down its benchmark overnight lending rate to a target range of 1.75% to 2%.
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The bank cut its overnight deposit rate to 16.75 percent from 17.75 percent and its overnight lending rate to 17.75 from 18.75 percent, it said in a statement.
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However, the Qatari central bank kept its overnight lending rate unchanged at 5 percent and its repo rate, used to lend money to banks, flat at 2.25 percent.
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The central bank no longer considers the 35-day Lebac its benchmark interest rate, turning instead to the seven-day interbank lending rate at the start of this year.
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This should allow the mainly state-owned distributor banks to cut the lending rate for KUR loans to 9% compared with above 20% for other non-subsidised micro-loans.
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The Fed's decision to raise the benchmark overnight lending rate by one quarter point on Wednesday triggered a new wave of selling across Wall Street earlier in the week.
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LUANDA, Feb 29 (Reuters) - Angola's central bank left its benchmark lending rate unchanged at 12 percent after a policy meeting on Monday, a statement posted on its website said.
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The new five-year LPR rate was set at 4.85%, according to the PBOC's national interbank funding center, which was below the five-year benchmark lending rate of 4.90%.
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While the PBOC has been guiding money market rates lower in various ways, most analysts do not expect China to cut its benchmark lending rate unless conditions sharply deteriorate.
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LUSAKA, Feb 21 (Reuters) - Zambia's central bank cut its benchmark lending rate by 50 basis points to 9.75 percent on Wednesday, citing lower consumer inflation and weaker economic growth.
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The People's Bank of China, the central bank, has not raised its benchmark one-year lending rate, currently 4.35%—the way it has tightened monetary policy in the past.
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The new five-year LPR rate was set at 13%, according to the PBOC's national interbank funding center, which was below the five-year benchmark lending rate of 4.90%.
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The new five-year LPR rate was set at 4.85%, according to the PBOC's national interbank funding centre, which was below the five-year benchmark lending rate of 4.90%.
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Interest rate futures markets rallied so hard that they have erased any probability of an increase in the Fed's benchmark overnight lending rate for both this year and next.
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Under the changes, banks must set rates on new loans using the new LPR as the benchmark for floating lending rates, rather than the PBOC's benchmark bank lending rate.
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"China has liberalised the lending rate, but they couldn't shock the banking system by taking rates down sharply," said Sean Darby, global equity strategist at Jefferies in Hong Kong.
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The July 31 reduction in borrowing costs, the Fed's first in more than a decade, brought its key overnight lending rate to a target range of 2.00% to 2.25%.
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Financial markets had widely expected the quarter-percentage-point rate cut, which lowered the U.S. central bank's benchmark overnight lending rate to a target range of 2.00% to 2.25%.
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DALIAN, China, July 1 (Reuters) - A Chinese central bank adviser said on Monday he expects China will eventually abolish its benchmark lending rate, but did give a clear timeline.
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The seven-member board decided to boost the lending rate by 25 basis points, meeting the forecast of 18 out of 20 analysts in a Reuters survey last week.
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Ncube said the central bank's decision last week to raise the overnight lending rate to 50% from 15% was temporary and meant to stop speculative borrowing by currency traders.
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Financial markets had widely expected the quarter-percentage-point rate cut, which lowered the U.S. central bank's benchmark overnight lending rate to a target range of 2.00% to 23%.
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Financial markets had widely expected the quarter-percentage-point rate cut, which lowered the U.S. central bank's benchmark overnight lending rate to a target range of 21% to 16.437%.
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The policymaking Federal Open Market Committee on Wednesday dropped the target range for its overnight lending rate to 2% to 2.25%, or 25 basis points from the previous level.
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Financial markets had widely expected the quarter-percentage-point rate cut, which lowered the U.S. central bank's benchmark overnight lending rate to a target range of 13% to 2.25%.
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BOGOTA, May 27 (Reuters) - Colombia's central bank raised its benchmark lending rate on Friday to 7.25 percent, the ninth consecutive monthly increase, in a bid to ease stubborn inflation.
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The seven-member board decided to boost the lending rate by 25 basis points, meeting the forecast of 14 out of 18 analysts in a Reuters survey last week.
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In June, the repo rate INREPO=ECI, or the benchmark lending rate, was raised for the first time in over four years, by 25 basis points to 6.25 percent.
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In the wake of the Great Recession, former Fed Chair Ben Bernanke took the overnight interbank lending rate down to zero percent from 5.25 percent and printed $3.7 trillion.
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Turkey's central bank hiked its overnight lending rate but left its main policy rate on hold, disappointing investors hoping for a sharper increase to stem the Turkish lira's slide.
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The board also kept unchanged the one-day deposit rate at 0.25 percent and the one-day lending rate at 2.25 percent, Sejko said following the Supervisory Board meeting.
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The Fed raised its overnight lending rate 25 basis points in December and has reduced the size of its massive balance sheet of mortgage-backed securities and U.S. debt.
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On Tuesday, the central bank cut its key lending rate by half a percentage point, or 50 basis points, to 10 percent, in a bid to spur credit growth.
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As such, officials might want to keep their small nuclear weapon of a benchmark lending rate cut in their back pockets in case growth slows significantly later this year.
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The central bank also hiked its overnight lending rate to 50% from 15% as a part of a set of measures to protect the RTGS dollar introduced in February.
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But the hurdle was set low: the fund had to make gains of more than the euro interbank lending rate – which has been below 20.8928 percent for 17 months.
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A rate cut on Wednesday, which would be the Fed's third this year, would lower the overnight benchmark lending rate to a new range of between 20093% and 1.75%.
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China's banks currently price their loans based on the benchmark lending rate that has been kept unchanged since October 2015, hampering the central bank's efforts to lower borrowing costs.
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The seven-member board decided to boost the lending rate by 25 basis points, meeting the forecast of 16 out of 22 analysts in a Reuters survey last week.
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SHANGHAI, Nov 15 (Reuters) - China's central bank unexpectedly extended loans through its medium-term lending facility (MLF) on Friday, while keeping the lending rate unchanged from the previous operation.
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The benchmark overnight interbank lending rate fell to zero percent but not to negative levels partly because some banks have not fixed their system to deal with negative rates.
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LILONGWE, Nov 25 (Reuters) - Malawi's central bank has cut the benchmark lending rate by 300 basis points to 24 percent as consumer inflation slows and the kwacha currency stabilises.
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MOSCOW (Reuters) - Russia's central bank will cut its main lending rate by 50 basis points when it meets on Friday, a Reuters poll predicted, as inflation data have improved.
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The Fed last raised rates in December, and currently targets a range of 0.25 percent to 0.5 percent for the overnight lending rate between banks, its main policy lever.
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The Board also did not change interest rates in the interbank market, keeping the one-day deposit rate at 0.25 percent and one-day lending rate at 2.25 percent.
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Markets cheered the move by China's central bank to unexpectedly cut its lending rate as growth in the world's second largest economy was cooled by a protracted trade war.
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Kenya's Parliament has repealed its cap on the lending rate for banks, a move that is anticipated to boost business activity and economic growth in the East African nation.
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Erdogan said on Monday banks should lower interest rates on consumer loans, while one of his aides said the central bank should continue to cut the overnight lending rate.
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Lenders began downsizing as mortgage rates rose, expecting fewer refinance applications, but rates stayed low longer than expected, after the Federal Reserve delayed increasing its lending rate until December.
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LAGOS, July 28 (Reuters) - Nigeria's interbank lending rate fell sharply to five percent on Friday from 15 percent last week following the distribution of budget allocations to government agencies.
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The weighted average lending rate of China's non-financial firms rose by 26 basis points in the first quarter to 5.53 percent, according to data from the central bank.
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Investors also looked ahead to the Federal Reserve policy meeting next week, with central bankers widely expected to cut the overnight lending rate another 25 basis points on Wednesday.
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China's financial markets are evenly divided over whether the benchmark lending rate will be lowered or kept steady in response, when it is set at 0930 GMT on Monday.
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It hopes the rate will gradually replace the existing fixed benchmark lending rate, and do a better job in passing on lower rates to borrowers in the corporate sector.
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It has since raised interest rates another four times and investors widely expect another nudge upwards in the lending rate at its next policy meeting on March 20-21.
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Policymakers cut the benchmark lending rate for the first time in more than a year on Monday, saying a tightening stance by the Treasury had created room for easing.
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A rate cut on Wednesday, which would be the Fed's third this year, would lower the overnight benchmark lending rate to a new range of between 1.5% and 19903%.
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The U.S. central bank lifted the benchmark lending rate by a quarter percentage point and announced it would begin cutting its huge holdings of bonds and securities this year.
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China's move to cut its benchmark lending rate on Thursday also helped ease worries about slowing demand in the world's second-biggest oil consumer and largest crude oil importer.
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Thailand's biggest lender by assets, Bangkok Bank, said on Tuesday it is cutting its minimum lending rate (MLR) by 25 basis points (bps) to 6.25 percent, effective on Wednesday.
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BUENOS AIRES, Sept 26 (Reuters) - Argentina's central bank kept its benchmark seven-day interbank lending rate unchanged at 26.25 percent on Tuesday, the monetary authority said in a statement.
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BUENOS AIRES, Dec 26 (Reuters) - Argentina's central bank held its benchmark seven-day interbank lending rate unchanged at 28.75 percent on Tuesday, the monetary authority said in a statement.
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It hopes the rate will gradually replace the existing fixed benchmark lending rate, and do a better job in passing on lower rates to borrowers in the corporate sector.
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It had lowered its benchmark overnight lending rate three times this year to counteract harmful impacts on the economy from slowing global growth and the U.S.-China trade war.
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It had lowered its benchmark overnight lending rate three times this year to counteract harmful impacts on the economy from slowing global growth and the U.S.-China trade war.
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The majority of economists polled by Reuters last week predicted that the MPC would keep the lending rate on hold in Africa's largest economy and top crude oil producer.
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In the last decade, it has been implicated in several financial scandals, including pushing toxic mortgages on investors and manipulating London's main lending rate for its own financial gain.
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LUSAKA, Nov 16 (Reuters) - Zambia's central bank left its benchmark lending rate unchanged at 15.5 percent, governor Denny Kalyalya said at the end of a monetary policy meeting on Wednesday.
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The one-year Shanghai Interbank Offered Rate (SHIBOR) SHICNY1YD= has climbed to two-year highs and is currently at 4.42 percent, above the PBOC's official lending rate of 4.35 percent.
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All but one of 18 economists in a Reuters poll had forecast a hike in the overnight lending rate, which is the upper band of the bank's interest rate corridor.
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The Federal Reserve started lowering its target overnight lending rate, which affects treasury yields, in late 231 from above 21.6 percent to a historical low of 22.4 in December 2008.
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The Fed is widely expected to hike its benchmark overnight lending rate for a fourth and final time of 2018 when it concludes a two-day policy meeting on Wednesday.
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The Fed raised its benchmark overnight lending rate at its March 2100-21 meeting by a quarter percentage point to a target range of between 1.50 percent and 1.75 percent.
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As widely expected, the Federal Open Market Committee — the central bank's policy making arm — kept its benchmark overnight lending rate target at a range of 0.5 percent to 0.75 percent.
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Investors widely expect the central bank to cut its benchmark lending rate for the first time since 2008, embarking on a rate-cutting cycle that's been so bullish for stocks.
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BOGOTA, June 22 (Reuters) - Colombia's central bank raised its benchmark lending rate to 7.5 percent on Wednesday, the tenth consecutive monthly increase, in a bid to ease stubbornly high inflation.
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The Monetary Policy Committee kept the overnight deposit rate at 218.903 percent and the overnight lending rate at 15.75 percent, as predicted by all 15 respondents in a Reuters poll.
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The cap, introduced in 21 to curb high interest rates on loans, prevents banks from charging more than four percentage points above the central bank's benchmark lending rate, currently 8.0.1500%.
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CAIRO, Dec 27 (Reuters) - Egypt's central bank left its key overnight interest rates steady on Thursday, keeping the deposit rate at 16.75 percent and the lending rate at 17.75 percent.
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That has helped to tighten credit conditions, with the weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rising 47 basis points in 2017.
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The U.S. central bank subsequently raised its benchmark lending rate by a quarter percentage point at its June 13-14 meeting and the discount rate to 1-3/4 percent.
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From Tuesday, Westpac now assesses the serviceability capacity of its customers using the lower of 2.5% over its lending rate, or a minimum 5.75% floor test, according to its website.
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Yinager said Ethiopian banks should provide better services and said he told bank heads privately the average lending rate to 18 to 20 percent is "not fair" to average people.
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The minimum lending rate is primarily used by large multinational or local conglomerates, while the minimum overdraft rate is used by a wider range of companies with sound financial standing.
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Economists said the cut in SRR - the minimum amount of reserves that must be held by a commercial bank - should bring down the interbank lending rate and boost loan growth.
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LAGOS, Feb 225.802 (Reuters) - Nigeria's central bank sold about 2.463 billion naira ($22.46 billion) of Treasury bills on Friday, lifting the interbank lending rate up to 21 percent, traders said.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 22 basis points in the first quarter to 5.96 percent, PBOC data showed.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 22 basis points in the first quarter to 5.96 percent, PBOC data showed.
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The bank's benchmark repo rate currently sits at 8 percent, while the overnight lending rate - the highest of the multiple rates it uses to set policy - is at 8.5 percent.
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The bank raised its benchmark lending rate for the first time in nearly three years in November, which it said was to counter the risk of longer-term higher inflation.
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Fed policymakers at the May 1-2.33 meeting decided, as expected, to keep the benchmark overnight lending rate unchanged in a target range of between 1.50 percent and 1.75 percent.
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All eyes are on the U.S. Federal Reserve's policy meeting next week with a 75-basis-point cut in the U.S. central bank's key overnight lending rate already priced in.
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Fed funds futures on Thursday implied traders saw a 100% likelihood that the central bank's benchmark overnight lending rate will fall by at least another 75 basis points this month.
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Below is a list of recent emerging market central bank monetary policy changes: BOTSWANA - The central bank cut the lending rate by 2119 basis points to 2112% on Aug. 29.
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However, the Riksbank did not follow major central banks in cutting its main lending rate, the repo rate, which has stood at 0% since a hike in December last year.
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Bank profitability will remain lacklustre and under pressure, owing to another likely cut in the benchmark one-year lending rate and further migration of deposits toward wealth management products (WMPs).
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The Fed currently forecasts a total of four rate rises in 0.33, with investors expecting a final nudge upwards of the year in the benchmark overnight lending rate in December.
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Because of the rising inflation, markets may lower expectations for a key lending rate cut by the People's Bank of China, said Stephen Innes, chief Asia market strategist for AxiTrader.
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China's move to cut its benchmark lending rate on Thursday also helped to ease worries about slowing demand in the world's second-biggest oil consumer and largest crude oil importer.
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In a tweet Tuesday morning, the president said again that the central bank should cut its key lending rate so it's more in line with that of its global peers.
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The State Bank of Vietnam will also cut the short-term lending rate for small and medium-sized enterprises from 6.5% per annum to 6% to support growth, it added.
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Yields in short-term government securities fell after the central bank cut its key lending rate by 1.363 basis points in a surprise move before the market opened on Wednesday.
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The (KBE) managed to climb 0.68% at session end, in response to the central bank's decision to reduce the benchmark lending rate to a target range of 1.75% to 2%.
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On the flip side, if growth disappoints, the Fed might be tempted to cut the overnight lending rate again and the yield curve could steepen and help widen lending margins.
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The officials are widely expected to cut the overnight lending rate by 25 basis points amid a weaker economic situation in Europe and trade tensions between the U.S. and China.
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Analysts expect the People's Bank of China (PBOC) to keep its benchmark lending rate unchanged at 4.35 percent through at least the second quarter of 2019, the Reuters poll showed.
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All 17 economists polled by Reuters had forecast the bank would leave the repo rate unchanged, and its overnight lending rate at 9.25 percent and overnight borrowing rate at 7.25 percent.
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"Sharp lending rate cuts will slow corporate bonds issues in the near term, especially from A+ and AA- rated borrowers," said Jayen Shah, head of debt capital markets at IDFC Bank.
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CAIRO, Sept 27 (Reuters) - Egypt's central bank left its main interest rates unchanged on Thursday, keeping the overnight deposit rate at 16.75 percent and the overnight lending rate at 17.75 percent.
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Short-term yields, impacted by changes in Fed policy, have been cemented in place as Chair Jerome Powell led his colleagues in three increases to the overnight lending rate in 2018.
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The Fed, which influences the financial markets by adjusting the overnight lending rate, has hiked interest rates three times this year and is widely expected to do so again in December.
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The central bank is expected to hike its benchmark overnight lending rate for a fourth and final time in 2018, and its outlook for 2019 will also be scrutinized by investors.
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Officials have given no signal in recent weeks of any change to the U.S. central bank's benchmark overnight lending rate, currently set in a range of 2.25 percent to 23 percent.
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All 16 analysts and economists surveyed in a Reuters poll had forecast that Banxico would keep its key lending rate at 8.25%, the level it has been at since Dec. 20.
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The PBOC unexpectedly raised short-term interbank rates on Friday, though analysts do not expect it will be in any rush to raise its benchmark policy lending rate any time soon.
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A growing number now expect the Fed to cut its overnight lending rate later in 2019 as the boost from President Donald Trump's tax cuts give way to mounting trade disputes.
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Still, investors widely expect the Fed to cut interest rates again before the end of the year after voting to reduce the overnight lending rate by 25 basis points in July.
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At its July policy meeting the Federal Reserve appeased markets by cutting the target range for its overnight lending rate 25 basis points, to a target range of 2% to 2.25%.
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Earlier on Wednesday, the U.S. Federal Reserve cut the overnight lending rate to a target range of 2.00% to 2.25% due to concerns about the global economy and muted U.S. inflation.
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The Fed dropped the target range for its overnight lending rate to 2% to 2.25%, or 25 basis points from the previous level, marking the first rate cut since December 2008.
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If market expectations are on the nose, the central bank will push its key overnight lending rate up another quarter point, which in turn should boost borrowing costs across the economy.
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The central bank no longer considers the short-term Lebac yield as its benchmark interest rate, turning instead to the seven-day interbank lending rate at the start of this year.
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The National Bank of Hungary cut its overnight deposit rate by 203 basis points to -0.05 percent on Tuesday and lowered its overnight lending rate to 1.45 percent from 2.1 percent.
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Economists said Chinese regulators may face a tough job in unifying the country's interest rates and develop a real market-based benchmark rate similar to the Federal Reserve's overnight lending rate.
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He said the Monetary Council has also decided that its one-week lending rate would be set at 15 basis points above the base rate, which now stands at 1.2 percent.
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A majority of the bank's seven-member board voted to boost the lending rate to 7 percent, surprising most analysts in a Reuters survey, who had expected a quarter-point rise.
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To capture the value being added, statisticians use an imputed figure, the "spread" between a risk-free interest rate and a lending rate, and multiply this by the stock of loans.
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All 18 analysts and economists surveyed in a Reuters poll forecast that Banxico would hold the key lending rate at 8.25 percent, the level it has been at since Dec. 20.
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In March, when the European Central Bank cut its main lending rate to zero and its deposit rate to -0.4%, the head of the savings banks' association called the policy "dangerous".
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The U.S. central bank raised the discount rate by a quarter percentage point to 2-1/4 percent and also increased its benchmark lending rate at its March 20-21 meeting.
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For now, most analysts believe China will not resort to more forceful broad-based easing measures such as cut in its policy lending rate, which was last seen in late 2015.
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"The cost of credit is still very accessible," he said, adding that the central bank's key lending rate was far below its level of 8.25 percent at the outset of 2009.
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The seven-member board decided by majority to boost the lending rate by 25 basis points, meeting the forecast of 18 out of 20 analysts in a Reuters survey last week.
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The lending rate rose one basis point in the second quarter, following a rise of 22 basis points in the first quarter and a rise of 47 basis points in 2017.
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Separately, the PBOC unexpectedly extended 20.0 billion yuan through its medium-term lending facility on Friday, the second time it has done so this month, while keeping the lending rate unchanged.
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The Federal Reserve on Tuesday began its two-day policy meeting that is widely expected to result in the central bank cutting the benchmark overnight lending rate by 25 basis points.
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The central bank, which had not opened a repo auction in a month as the lira plunged, had been funding through its overnight lending rate of 19.25 percent in recent weeks.
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State Bank of India, the country's largest lender by assets, has cut its key lending rate by only 10 basis points in response to the 50 bps cuts by the RBI.
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Officials have given no signal in recent weeks of any change to the U.S. central bank's benchmark overnight lending rate, currently set in a range of 2.25 percent to 2.50 percent.
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The central bank last week cut its benchmark short-term lending rate by half a percentage point and is widely expected to go even lower at its policy meeting next week.
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The PBOC hasn't said when the existing benchmark lending rate will be finally scrapped, but it reiterated on Saturday that it wants to merge its system of fixed and floating rates.
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On Tuesday morning the People's Bank of China set its new Loan Prime Rate at 4.25% — slightly lower than its existing benchmark one-year lending rate, which hasn't changed in years.
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The Reserve Bank of India slashed its key lending rate to the lowest level in nine years, a move the central bank said was needed to boost growth and private investment.
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The policy decision left the Fed's benchmark overnight lending rate in its current target range between 22021% and 21.9%, three-quarters of a percentage point below where it started the year.
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LUSAKA, Feb 19 (Reuters) - Zambia's central bank held the benchmark lending rate at 11.5% on Wednesday, as governor Denny Kalyalya expressed concern about slow economic growth and a hefty fiscal deficit.
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The LPR, which banks charge corporate clients for new loans, is a new lending benchmark that China introduced in August and hopes will gradually replace the existing fixed benchmark lending rate.
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The People's Bank of China on Saturday ordered all banks to stop using its existing fixed benchmark lending rate starting January 1 and adopt the LPR to price their new loans.
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BUENOS AIRES, Oct 24 (Reuters) - Argentina's central bank raised its benchmark interbank lending rate to 27.75 percent on Tuesday, up from 26.25 percent previously, the monetary authority said in a statement.
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More than 85 percent of nearly 70 economists polled over the past week forecast the RBI would cut its benchmark lending rate, the repo rate, to 6.00 percent on April 4.
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GABORONE, Feb 28 (Reuters) - Botswana's central bank left its benchmark lending rate unchanged at 5.5 percent on Tuesday, saying the inflation forecast will remain low and stable in the medium term.
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The Federal Open Market Committee approved a much-anticipated quarter-point interest rate cut on Wednesday, taking down its benchmark overnight lending rate to a target range of 1.75% to 2%.
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Binyamin Appelbaum With oil prices depressed and the Canadian economy sluggish, many economists had assumed that the Bank of Canada would not raise its key lending rate until sometime next year.
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China kept its benchmark lending rate unchanged on Friday, defying expectations for a reduction to ease borrowing costs in an economy jolted by widespread disruptions to businesses from the coronavirus pandemic.
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The average lending rate to small and micro firms by China's top five banks stood at 4.79% as of end-May industry-wide, down from 5.44% in 2018, according to Zou.
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In August, Mexico's central bank, known as Banxico, cut its key lending rate for the first time since June 2014, fueling expectations further monetary policy easing could be on the way.
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In an emergency meeting, the bank left its overnight borrowing rate unchanged at 7.25 percent, its overnight lending rate unchanged at 9.25 percent and one-week repo rate unchanged at 8.0 percent.
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Short-term yields, affected by changes in Fed policy, have been anchored in place in recent months as Chairman Jerome Powell led his colleagues in three increases to the overnight lending rate.
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Short-term yields, impacted by changes in Fed policy, have been anchored in place in recent months as Chair Jerome Powell led his colleagues in three increases to the overnight lending rate.
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The move comes after the central bank last week cut its benchmark Selic lending rate by a quarter of a percentage point to 14 percent, marking its first reduction in four years.
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The bank lowered its deposit rate to 22019 percent from 1003 and its lending rate to 2100 percent from 2100, it said in a statement, its first rate cuts since March 22018.
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The People's Bank of China (PBOC) on Saturday designated the LPR the new lending benchmark for new bank loans to households and businesses, replacing the central bank's benchmark one-year lending rate.
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While the PBOC has been guiding money market rates lower in various ways, most analysts do not expect China to cut its benchmark lending rate unless economic conditions threaten to sharply deteriorate.
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China switched to a revamped LPR lending benchmark rate on Tuesday for banks to use when setting rates on new loans, instead of the central bank's existing benchmark one-year lending rate.
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The July 31 quarter-point reduction in borrowing costs, the Fed's first cut in more than a decade, brought its key overnight lending rate to a target range of 2.00% to 2.25%.
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All 16 analysts and economists surveyed in a Reuters poll had forecast that Banxico would hold its key lending rate at 8.25 percent, the level it has been at since Dec. 20.
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Fed funds futures also indicate that investors believe there's virtually no chance the central bank holds rates steady, despite advocacy by two regional Fed presidents to leave the overnight lending rate unchanged.
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MOSCOW (Reuters) - Russia's central bank will cut its main lending rate in the first quarter of 2017, but keep it unchanged at 10 percent on Friday, a Reuters poll of analysts predicted.
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Despite a healthy economy and an unemployment rate under 4%, investors widely expect the central bank to cut its benchmark lending rate for the first time since 2008 by 25 basis points.
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If the rate cap is introduced and assuming no change in the CBR, this would mean that no loan could be priced above 21153%, almost 400bp below the current average lending rate.
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Turkey's central bank cut borrowing costs for the sixth straight month on Tuesday, lowering its overnight lending rate by 25 basis points despite high inflation and worries about possible credit rating downgrades.
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After a 25 basis point reduction in the overnight lending rate, Powell said "implications of global developments for the economic outlook as well as muted inflation pressures" contributed to the Fed's decision.
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As expected by markets, policymakers moved the U.S. central bank's benchmark overnight lending rate to a target range of 2518% to 2.25%, citing concerns about the global economy and muted U.S. inflation.
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As expected by markets, policymakers moved the U.S. central bank's benchmark overnight lending rate to a target range of 2510.36% to 2.25%, citing concerns about the global economy and muted U.S. inflation.
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LUANDA, April 13 (Reuters) - Angola's central bank kept its benchmark lending rate unchanged at 16 percent after a policy meeting on March 31, a statement posted on Thursday on its website said.
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Even with China's official lending rate at a record low of 4.35 percent, economic data shows that firms are depositing money at banks rather than investing for the future, this person said.
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At its last meeting in September, the bank held its benchmark lending rate at 9.0%, saying inflation expectations were within the target range and the economy was operating close to its potential.
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LUANDA, Feb 1 (Reuters) - Angola's central bank said on Monday it had raised its benchmark lending rate by 100 basis points to 12 percent, due to a general rise in price pressures.
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" In October, Powell said the central bank was "a long way" from a neutral overnight lending rate, and in December commented that the process of reducing the balance sheet was on "autopilot.
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Monday's 50-basis-point cut in the benchmark lending rate to 9.5 percent took much of the market by surprise, with seven of 11 analysts polled by Reuters having forecast no change.
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Yields of ranging quality have been under pressure ever since the Federal Reserve downgraded its forecast for the American economy last week, when it decided to leave its overnight lending rate unchanged.
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Concerns about an inflation rate that is running at the fastest pace in almost 13 years, led the central bank to keep its benchmark lending rate steady at 14.25 percent this month.
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The bank lowered its deposit rate to 15.75 percent from 16.75 and its lending rate to 16.75 percent from 17.75, it said in a statement, its first rate cuts since March 2018.
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But as long as the Fed keeps raising its benchmark lending rate, as expected in December, higher interest rates for savings accounts should be in the cards for the foreseeable future too.
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In a majority decision, the Bank of Mexico's five-member board voted earlier in the day to reduce its key lending rate by 25 basis points, the first cut since June 2014.
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Eleven of 16 analysts and economists surveyed by Reuters had expected the Bank of Mexico (Banxico) to hold the key lending rate at 8.25%, the level it has maintained since Dec. 20.
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"While the European Central Bank has announced an end to Quantitative Easing in December, it also says it will keep its key lending rate at zero percent until next summer," Leung said.
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MALVERN, Pa. (Reuters) - The Federal Reserve can consider beginning to shrink its massive bond holdings once the overnight interbank lending rate hits 1 percent, Philadelphia Fed President Patrick Harker said on Thursday.
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LUANDA, May 12 (Reuters) - Angola's central bank left its benchmark lending rate unchanged at 14 percent after a policy meeting on April 29, a statement posted on Thursday on its website said.
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China's central bank extended 200 billion yuan ($28.60 billion) through its medium-term lending facility on Friday, the second time it has done so this month, while keeping the lending rate unchanged.
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ET. The U.S. Federal Reserve, meanwhile, is likely to announce a quarter-percentage-point cut to its overnight benchmark lending rate when it releases its latest policy statement at 02:00 p.m.
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Gerardo Hernandez will on Friday help decide whether to change the key lending rate from its current 7.5 percent as the bank seeks to bolster sluggish economic growth while tackling stubborn inflation.
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The Fed raised its benchmark overnight lending rate a quarter of percentage point to a range of 1.75 percent to 2 percent, as expected, on the back of strong U.S. economic growth.
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Sri Lanka's central bank unexpectedly cut its key lending rate by 25 basis points on Wednesday, as policy makers sought to revitalise an economy growing at its weakest pace in 21.97 years.
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The average mortgage lending rate rose 32 basis points in the third quarter to 5.01 percent, after rising by a total of 17 basis points in the first half of the year.
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State-run Shanghai Securities News published the comments of Ma Jun after China kept unchanged a benchmark lending rate, defying expectations for a cut, with the economy jolted by the coronavirus pandemic.
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The bank instituted stimulus measures, cutting its benchmark lending rate by a larger than expected 100 basis points and reduced the amount of cash that banks are required to hold as reserves.
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The bank delivered a surprise 100 basis point cut to its main lending rate on Thursday to help the economy, and said it stood poised to cut further if market volatility continued.
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Finally, the market sees about a 63.5% chance of a third reduction in December that would take the central bank's benchmark short-term lending rate to a target range of 0.75%-1%.
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The central bank has so far cut its overnight lending rate by a total of 125 basis points over the last three months to 9.5 percent, as inflation, particularly food inflation, cooled.
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The central bank voted to cut the overnight lending rate three times between July and October in a stated effort to safeguard against "downside risks," support to economy and further goad inflation.
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Money markets are now all but certain the U.S. Federal Reserve will lower its benchmark lending rate next month and the yen - heavily sold a week ago - has roared back to life.
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China cut the benchmark lending rate and banks in Shanghai have issued 21 billion yuan ($2995.88 million) in cheap loans to 48 key firms to support an economy jolted by the crisis.
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The central bank will push down real lending rates, especially for small firms, by further improving the transmission mechanism of the loan prime rate (LPR) - its new benchmark lending rate, Liu said.
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"Since the central bank's objective of reducing market lending rates are expected to take effect with lending rate caps, another rate cut is unwarranted," said Danushka Samarasinghe, CEO at Softlogic Capital Markets.
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Analysts expect the PBOC to announce more cuts in banks' reserve requirement ratios (RRR), and predict further reductions in the country's one-year loan prime rate (LPR), its new benchmark lending rate.
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The Fed has cut the overnight lending rate three times in 2019, most recently at its October meeting when it reduced the federal funds rate to a range between 1.5% and 1.75%.
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LUSAKA, May 17 (Reuters) - Zambia's central bank cut its benchmark lending rate by 150 basis point to 12.5 percent, Governor Denny Kalyalya said on Wednesday, citing lower inflation and subdued economic growth.
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While the lending rate is on hold for now, more cuts could still be on the horizon, wrote Julian Evans-Pritchard, senior China economist at Capital Economics, in a research note Friday.
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The Federal Reserve is expected to cut its benchmark lending rate at the conclusion of its Federal Open Market Committee meeting, which will take place on Tuesday and Wednesday of this week.
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Even with China's official lending rate at a record low of 6.53 percent, economic data shows that firms are depositing money at banks rather than investing for the future, this person said.
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The Fed cut its key overnight lending rate to near zero in late 2008 and kept it there for the next seven years to help the economy recover from the financial crisis.
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The Fed on Wednesday voted 7-85033 to cut interest rates for the second time this year, lowering its lending rate 0.25 percentage points to a 1.75 to 2 percent baseline range.
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Seven out of 21 analysts surveyed by Reuters had predicted a cut of 50 basis points in the overnight lending rate, the highest of the three rates the bank uses to set policy.
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As expected, the Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 13 percent to 2 percent, on the back of strong U.S. economic growth.
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That would put the benchmark overnight lending rate at 3.4 percent, roughly half a percentage point above the Fed's estimated "neutral" rate of interest, at which rates neither stimulate nor restrict the economy.
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The seven-member board will probably maintain the lending rate at 7.75 percent for a third month after raising it 325 basis points over the course of a year to ease inflationary pressure.
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Short-term yields, impacted by changes in Federal Reserve policy, have been anchored in place in recent months as Chairman Jerome Powell led his colleagues in three increases to the overnight lending rate.
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Analysts expect any further steps to be gradual as policymakers weigh their impact on economic growth, and believe the PBOC will be in no hurry to raise the policy lending rate for now.
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NAIROBI, Sept 20 (Reuters) - Kenya's central bank cut its benchmark lending rate by 50 basis points to 10.0 percent on Tuesday due to concerns about sluggish credit growth, its monetary policy committee said.
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He said the Monetary Council has also decided that the central bank's one-week lending rate would be set at 15 basis points above the base rate, which currently stands at 1.2 percent.
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The central bank lifted its main lending rate by 600 basis points to 23.25 percent last week in an effort to stabilise the metical and tame inflation which hit 22 percent in August.
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The Fed kept its benchmark lending rate unchanged at the end of a policy meeting on Wednesday, but also noted that both overall inflation and a measure of underlying price gains had declined.
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President Donald Trump, however, has blamed Fed officials and higher borrowing costs for curbing economic growth, saying earlier this week that he'd prefer a full percentage point cut to the overnight lending rate.
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That has forced banks to borrow at its higher overnight lending rate (which it raised by 0.75 percentage points on January 24th) or the even higher rates offered at its "late" liquidity window.
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The gains came after after a Reuters report said China's central bank could cut its key lending rate as well as banks' reserve requirement ratios in the coming weeks to support economic growth.
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The current target range for the fed funds overnight lending rate is 2.25% to 2.5% "I think they are going to cut in June," said Grant, surprising everyone around the "Squawk Box" table.
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The central bank is scheduled to announce its monthly interest rate decision Tuesday and expectation of economists as of Friday was for a further 50 basis points cut in the overnight lending rate.
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The Monetary Policy Committee (MPC) raised the overnight deposit rate to 11.75 percent from 10.75 percent and the overnight lending rate was raised to 12.75 percent from 11.75 percent, according to a statement.
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It kept the overnight deposit rate at 18.75 percent and the overnight lending rate at 19.75 percent on Thursday, in line with the expectations of all 11 economists polled by Reuters this week.
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A British committee last year selected SONIA, an unsecured overnight lending rate, as an alternative to sterling-based Libor and Japan selected TONAR as an alternative to yen Libor, also an unsecured rate.
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Interest rates have also risen on expectations that Trump's economic plans will accelerate growth and inflation and the Federal Reserve will ratchet up the pace of hikes to its benchmark overnight lending rate.
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LUSAKA, Nov 22 (Reuters) - Zambia's central bank cut its benchmark lending rate by 75 basis points to 10.25 percent on Wednesday, citing declining consumer inflation, the high cost of credit and low growth.
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The Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 266.67 percent to 264.22 percent, as expected, on the back of strong U.S. economic growth.
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LUANDA, Nov 3 (Reuters) - Angola's central bank has decided to keep its benchmark lending rate unchanged at 16 percent due to a deceleration in price pressures in the economy, it said on Thursday.
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Forward rate agreements were on Monday pricing in a 94 percent chance of a 25 basis points rate cut in the benchmark lending rate, up from an 80 percent chance two weeks ago.
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"We expect the interbank lending rate to open next week at today's closing level and subsequently rise gradually as the central bank sells more dollars on the foreign exchange market," one trader said.
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The situation probably means that recent reductions in Brazil's benchmark Selic overnight lending rate have yet to reach borrowers, who have been engaged in heavy refinancing efforts with banks over the past year.
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The Turkish central bank has cut its overnight lending rate - the highest of the multiple rates it uses to set policy - by a total of 75 basis points in its last two meetings.
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The U.S. central bank is broadly expected to drop its benchmark overnight lending rate another 25 basis points in September after cutting for the first time in 0.93 years at the July meeting.
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China's benchmark lending rate has not changed in almost two years, but the central bank surprised markets in March by raising short and medium-term interbank rates hours after the last Fed hike.
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Later this week the Mexican central bank is widely expected to cut its benchmark lending rate for the third time this year as the economy shows signs of stagnating, a Reuters poll showed.
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Citibank was the first bank to announce on Wednesday it would raise its prime lending rate to 4.5 percent, effective Thursday, after the Federal Reserve raised its short-term rate one quarter-point.
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The Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 2442 percent to 217 percent, as expected, on the back of strong U.S. economic growth.
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Seventeen out of 21 analysts surveyed by Reuters had predicted a cut of 50 basis points in the overnight lending rate, the highest of the three rates the bank uses to set policy.
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Analysts said it was too early to say how effective the monetary policy overhaul would prove, but added that the PBOC had good reasons not to opt for cutting its benchmark lending rate.
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The revamped LPR, introduced by the PBOC in August, is down 22021 basis points and is at 21%, while the previous benchmark one-year lending rate has been at 26.9840% since October 2015.
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The worsening outbreak now has money markets all but certain the Federal Reserve will lower its benchmark lending rate next month, which was priced as just a 9% chance only a week ago.
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At their October 29-30 meeting, Federal Open Market Committee members weighed several options ahead for keeping the repo market stable and maintaining the central bank's key lending rate within its target range.
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LUSAKA, Nov 20 (Reuters) - Zambia's central bank raised the country's benchmark lending rate by 125 basis points to 11.5% on Wednesday, citing rising consumer price inflation and the need to restore macroeconomic stability.
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The Fed has raised interest rates seven times since it began a tightening cycle back in December 2015 and last lifted its benchmark lending rate by a quarter percentage point in mid June.
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Kate Kelly CANADIAN ECONOMY When the Bank of Canada announces its benchmark lending rate on Wednesday, few observers anticipate that it will follow the lead of its American counterpart and post an increase.
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The FOMC unanimously approved a quarter-point hike that pushed the target range for its short-term lending rate to between 0.5 percent and 0.75 percent, and indicated a somewhat more aggressive path forward.
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The central bank set a precedent for sudden actions when it lifted its overnight lending rate by 4.25 percent at an emergency meeting in January 2014 following a sharp tumble in the Turkish currency.
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MOSCOW (Reuters) - Russia's central bank cut its main lending rate on Friday for the first time in almost a year, signaling confidence that inflation risks are declining and describing an economic recovery as "imminent".
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One reason is that many banks, in a bid to protect their profit margins, refused to price their loans much lower than the benchmark lending rate — which has not been adjusted since October 2015.
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Tuesday's continued bounce comes after a Reuters report said China's central bank could cut its key lending rate as well as banks' reserve requirement ratios (RRRs) in the coming weeks to support economic growth.
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Twelve out of 19 economists polled by Reuters had expected an increase of 25 basis points in the repo rate, although the bank was widely expected to stay put on the overnight lending rate.
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Eleven of the 16 analysts and economists surveyed by Reuters said they expect the Bank of Mexico (Banxico) to keep the key lending rate at 8.25%, the level it has maintained since Dec. 20.
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Financial markets, which had expected the Fed to hold its benchmark overnight lending rate steady in the current range of 2.00 percent to 2.25 percent this week, ticked lower after the statement was released.
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Most economists expect China to keep its benchmark lending rate unchanged at 4.35 percent through to the end of 2019, as the central bank focuses on other monetary policy levers, such as interbank rates.
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The struggle to bring inflation in line with its targets has prompted the central bank to hike its benchmark seven-day interbank lending rate twice in the past month, bringing it to 28.75 percent.
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The bank lifted its main lending rate by 300 basis points to 17.25 percent in July due to soaring inflation and weakness in the currency caused by suspension of foreign aid by international donors.
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Though growth fears have dogged both China and much of Europe, lukewarm inflation prints in the United States have been enough to justify the Fed's argument for delaying increases to its overnight lending rate.
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The bank's Monetary Policy Committee (MPC) raised the overnight deposit rate to 22014 percent from 215 percent and the overnight lending rate rose to 11.75 percent from 10.25 percent, it said in a statement.
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All 15 economists polled by Reuters had predicted the bank would leave the repo rate steady, as well as the overnight lending rate, at 9.25 percent, and the overnight borrowing rate, at 7.25 percent.
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Economists in the latest Reuters poll forecast two more RRR cuts of 50 basis points each in this quarter and the last quarter, but did not expect a cut in the benchmark lending rate.
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BUENOS AIRES, Aug 12 (Reuters) - Argentina's interbank lending rate rose to 86% on Monday, up from 61% on Friday following a massive upset by opposition candidate Alberto Fernandez in Sunday's primary election, traders said.
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To support growth, the PBOC has cut bank reserves seven times since early 2018 to spur lending - alongside modest lending rate cuts, while local governments have stepped up debt issuance to accelerate infrastructure spending.
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BOGOTA, July 29 (Reuters) - Colombia's central bank raised its benchmark lending rate to 7.75 percent on Friday, the 11th consecutive monthly increase, as fast-climbing consumer prices put its 2017 inflation target at risk.
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The seven-member board decided to boost the lending rate by 25 basis points, the 11th consecutive monthly increase, meeting the forecast of 16 out of 22 analysts in a Reuters survey last week.
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GABORONE, April 26 (Reuters) - Botswana's central bank kept its benchmark lending rate unchanged at 6 percent on Tuesday, saying the outlook for price stability was positive, and inflation was expected to remain within target.
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The South African Reserve Bank's (SARB) move follows a 2000 basis point cut to its main lending rate on Thursday to help the flagging economy and comes amid severe liquidity strains in funding markets.
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While markets still see the central bank lowering its benchmark overnight lending rate by a quarter point at this week's Federal Open Market Committee meeting, the case for continued cuts seemingly has gotten weaker.
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The People's Bank of China extended 200 billion yuan ($13 billion) of loans from its medium-term lending facility on Tuesday to maintain liquidity but kept the one-year lending rate unchanged at 3.3%.
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The People's Bank of China extended 13 billion yuan ($28.27 billion) of loans from its medium-term lending facility on Tuesday to maintain liquidity but kept the one-year lending rate unchanged at 3.3%.
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Market sources told Reuters last week that Qatari commercial banks were discussing with the central bank the possibility of lowering its repo lending rate, now at 4.5 percent, to reduce pressure on their funding.
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The U.S. central bank cut the benchmark overnight lending rate to a range of 1.75% to 2.00% on a 7-43 vote and nodded to ongoing global risks and "weakened" business investment and exports.
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All 15 economists polled by Reuters had predicted the bank would leave the repo rate unchanged, as well as the overnight lending rate, at 9.25 percent, and the overnight borrowing rate, at 7.25 percent.
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The Fed lifted its benchmark overnight lending rate by a quarter of a percentage point to a range of 0.73 percent to 1.75 percent at the end of a two-day policy meeting on Wednesday.
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CAIRO, Feb 14 (Reuters) - Egypt's central bank on Thursday cut its overnight deposit rate to 15.75 pct from 16.75 pct, and lending rate to 16.75 pct from 17.75 pct, the bank said in a statement.
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Already, State Bank of India, India's biggest lender, and other lenders have announced new rates under the "marginal cost based lending rate" (MCLR) rules unveiled by the RBI that are slightly lower than existing loans.
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KCB, which also operates in neighbouring Uganda, Tanzania, Rwanda, Burundi and South Sudan, expects to set a base lending rate at the start of March, which will allow it to offer varying rates to customers.
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That means interest income from loans made to small firms at rate of no higher than 6.53 percent will be exempt from the VAT, based on the one-year benchmark lending rate of 4.35 percent.
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Earlier on Tuesday, the People's Bank of China lowered its new reference lending rate slightly, and there are expectations Beijing will take more steps to support its slowing economy, a major market for Australian firms.
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Nine out of 10 economists polled by Reuters said the bank on Thursday will keep the deposit rate at 18.75 percent and the lending rate at 19.75 percent for the third month in a row.
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BEIJING, Feb 5 (Reuters) - China will ensure lending rate to firms making key medical supplies and goods concerning people's livelihood to be capped at 1.6%, the state television reported on Wednesday, amid a coronavirus outbreak.
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The Fed generally likes to move rates in 0.25% increments, including the four hikes of that magnitude last year, bringing the fed funds overnight lending rate up to a target range of 2.25% to 2.5%.
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While Fed officials voted to maintained its target overnight lending rate, eight members showed that they'd be in favor of cutting rates this year, while the same number voted in favor of the status quo.
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Market focus began the week centered on the Fed's upcoming policy decision and public comments, with many expecting the U.S. central bank to hold its overnight lending rate steady ahead of a cut in July.
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In a recent Reuters poll, 15 of the 18 analysts surveyed projected the bank will maintain the lending rate at 5.25 percent, while the remaining three forecast a final cut this year to 5 percent.
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After announcing on Wednesday that the country's key lending rate would stay at 0.5 percent, Stephen Poloz, the governor of the Bank of Canada, noted the impact of oil prices on the cost of groceries.
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Though the central bank maintained the target overnight lending rate, that decision was accompanied by a growing number of officials open to one rate cut by the end of 270 with eight members in favor.
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That was not enough to change the median outlook for the Fed's targeted overnight lending rate, which officials projected to remain in a range of between 2.25% and 2.50% for the rest of this year.
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That was not enough to change the median outlook for the Fed's targeted overnight lending rate, which officials projected to remain in a range of between 18303% and 2.50% for the rest of this year.
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China stocks had faltered earlier on investor concerns over slowing domestic growth and on indications that Chinese authorities will resort to a benchmark lending rate cut only as a last resort to boost the economy.
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The rate on the benchmark 10-year Treasury note climbed above 3 percent in 2018 as the Federal Reserve continued to hike its benchmark overnight lending rate and let its enormous balance sheet run off.
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LUANDA, July 1 (Reuters) - Angola's central bank kept its benchmark lending rate unchanged at 16 percent following a policy meeting on June 30, the regulator said in a statement posted on Saturday on its website.
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In addition, the overnight deposit rate was lifted to 1.50 percent from 1.25 percent, the one-month deposit rate to 2.40 percent from 2.15 percent, and the lending rate to 3.50 percent from 3.25 percent.
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LILONGWE, Sept 28 (Reuters) - Malawi's central bank said on Thursday it has left the benchmark lending rate unchanged at 18 percent as inflation remained inline with its projections and the Kwacha exchange rate was stable.
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MOSCOW, Sept 16 (Reuters) - The board of directors of Russia's central bank decided unanimously to cut the main lending rate by 50 basis points on Friday, the bank's governor, Elvira Nabiullina, told a news conference.
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The Bank of Mexico cut its benchmark lending rate for the second time in a row at the end of September, to 7.75%, citing a decrease in inflation and the stagnation of the local economy.
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CAIRO, May 17 (Reuters) - Egypt's central bank kept its main interest rates unchanged on Thursday, with its deposit rate at 16.75 percent and the overnight lending rate at 17.75 percent, it said in a statement.
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Worries about the impact of the trade tensions on the U.S. economic expansion, the longest in history, prompted the Fed to cut its short-term lending rate last month for the first time since 20.2.
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"Infusing $2-3 billion of durable liquidity monthly is the only way for transmission of RBI rate cuts to lending rate cuts," said Indranil Sen Gupta, chief India economist at Bank of America Merrill Lynch.
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LAGOS, March 10 (Reuters) - Nigeria's overnight lending rate dropped to around 12 percent on Friday from 16 percent a week earlier as maturing bills and government budget disbursements pumped more cash into the money markets.
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China's central bank also unexpectedly trimmed a closely watched lending rate for the first time in more than four years on Monday, a signal that policymakers are ready to act to prop up slowing growth.
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In a signal that policymakers are ready to act to prop up slowing growth, China's central bank unexpectedly trimmed a closely watched lending rate on Monday, the first such cut in more than four years.
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That would put the U.S. central bank's benchmark overnight lending rate at 3.4 percent, roughly half a percentage point above its estimated "neutral" rate of interest, at which rates neither stimulate nor restrict the economy.
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The Kansas City and Richmond Federal Reserve banks renewed calls for an increase in the main lending rate for banks ahead of the Fed's last policy meeting, and were joined by Cleveland and San Francisco.
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The rate cut, which will bring the MRR down to 7.62 percent annually and MOR to 7.12 percent, is an addition to a recent cut in minimum lending rate on April 6, the bank said.
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Sluggish inflation, together with trade and geopolitical turmoil, reinforced traders' expectations the Federal Reserve will lower its key lending rate by at least a quarter point at its next policy meeting, on Sept. 17-18.
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GABORONE, Dec 18 (Reuters) - Botswana's central bank left its benchmark lending rate unchanged at 5 percent on Monday, saying the outlook for price stability was positive with inflation expected to remain with its target range.
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Mortgage lending rates that are 5 percent to 10 percent higher than the benchmark lending rate have become "a mainstream phenomenon" in Beijing, the business management department of the People's Bank of China (PBOC) said.
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SHANGHAI, March 20 (Reuters) - China kept its benchmark lending rate steady on Friday, defying expectations for a reduction to ease borrowing costs in an economy jolted by widespread disruptions to businesses from the coronavirus pandemic.
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China's central bank has issued a series of steps to cushion the economic blow of the virus outbreak, cutting the benchmark lending rate and making cheap subsidised loans to encourage bank lending to selected firms.
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In lowering the benchmark overnight lending rate to a range of 1.75% to 2.00% on a 210-232 vote, the Fed's policy-setting committee nodded to ongoing global risks and "weakened" business investment and exports.
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That followed the Chinese central bank's cut to its medium-term lending rate this week, as well as dozens of other measures Beijing has introduced in recent days to support businesses hit by the epidemic.
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China has cut several of its key rates in recent weeks, including the benchmark lending rate on Thursday, in a bid to reduce financial strains on companies facing severe business disruptions due to the outbreak.
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The U.S. central bank lifted the benchmark lending rate by a quarter percentage point and its policy-setting committee indicated the economy has been expanding moderately, according to a statement following a two-day meeting.
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SHANGHAI, Nov 19 (Reuters) - China is widely expected to cut its new benchmark lending rate on Wednesday, according to a survey of traders and analysts, after the central bank lowered interbank borrowing costs this month.
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China's central bank also unexpectedly trimmed a closely watched lending rate for the first time in more than four years on Monday, a signal that policymakers are ready to act to prop up slowing growth.
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Deutsche has been a primary offender in two of the biggest banking scandals of the past decade: promoting toxic mortgages to unwitting investors and manipulating for profit the main lending rate for banks in London.
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ISTANBUL (Reuters) - Turkey's central bank cut its overnight lending rate by 25 basis points on Thursday, setting aside concerns about inflation and possible ratings downgrades after repeated calls from President Tayyip Erdogan for cheaper credit.
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The Fed lifted its benchmark overnight lending rate by a quarter of a percentage point to a range of 1.50 percent to 1.75 percent at the end of a two-day policy meeting on Wednesday.
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The PBOC unexpectedly trimmed the seven-day lending rate in November for the first time in more than four years, a signal to markets that policymakers are ready to act to prop up slowing growth.
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In lowering the benchmark overnight lending rate to a range of 1.75% to 2.00% on a 7-18303 vote, the Fed's policy-setting committee nodded to ongoing global risks and "weakened" business investment and exports.
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The SPDR S&P Bank ETF (KBE) managed to climb 8003% at session end, in response to the central bank's decision to reduce the benchmark lending rate to a target range of 1.75% to 2%.
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China lowered its new one-year benchmark lending rate for the second month in a row on Friday, to 4.20%, as the central bank seeks to guide borrowing costs lower to support the slowing economy.
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Tommy Xie, head of Greater China research at OCBC Bank in Singapore said the move is a "half step" towards interest rate liberalization, and the link to the medium-term lending rate may only be temporary.
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The Kansas City and Richmond Federal Reserve banks renewed calls for an increase in the Fed's lending rate for banks ahead of the central bank's last policy meeting, and were joined by Cleveland and San Francisco.
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The central bank lifted its benchmark lending rate by 200 basis points to 12.75 percent in April, saying it was concerned about pronounced inflation risks caused by the drought and the sharp depreciation of the currency.
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The U.S. central bank raised the benchmark overnight lending rate four times in 2018 in an effort to prevent the economy from overheating, but President Donald Trump has criticized the Fed for endangering the economic recovery.
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Each time it raises its benchmark lending rate it also pushes up the rate its has to pay banks, which has previously drawn criticism from lawmakers who criticize the Fed for paying money to large banks.
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The TJLP rate runs below the benchmark overnight lending rate, partly because of an effort by politicians to boost growth and create jobs - costing taxpayers an average 1.5 percent of gross domestic product in recent years.
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A growing number of investors now expect the Fed to cut its overnight lending rate later in 2019 as the boost from Trump's tax cuts gives way to mounting trade disputes and weaker economic data overall.
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John Gachora, KBA's vice chairman, said there was also a risk that the lending rate caps would lead to some borrowers resorting to foreign currency-denominated loans, which could lead to a weakening of the shilling.
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Banks will set rates on new loans by referring to new LPR rate, but existing loans will still follow the original contracts that were signed in line with the benchmark lending rate, the central bank said.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 22 basis points in the first quarter to 5.96 percent, following a rise of 47 basis points in 2017.
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John Gachora, KBA's vice chairman, said there was also a risk that the lending rate caps would lead to some borrowers resorting to foreign currency-denominated loans, which could lead to a weakening of the shilling.
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At a meeting of its Monetary Policy Committee, the bank hiked its overnight deposit rate to 16.75 percent from 14.75 percent and its overnight lending rate to 17.75 from 15.75 percent, it announced in a statement.
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With investors in contracts linked to the Fed's targeted overnight lending rate putting the probability of a rate reduction at close to 100 percent, "it would be unprecedented for the Fed to not cut," Lavorgna wrote.
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The Fed raised its benchmark short-term lending rate in December by a quarter percentage point to a range of 0.50 percent to 0.75 percent and signaled the pace of increases would likely accelerate in 2017.
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To that point, it had held its benchmark overnight lending rate in a range of zero percent to 0.25 percent for seven years as the U.S. economy struggled through and slowly emerged from the Great Recession.
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The central bank unexpectedly cut its key lending rate by 25 basis points last week, as policy makers sought to revitalise an economy growing at its weakest pace in 16 years and facing heightened political uncertainty.
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Bank Indonesia has cut the benchmark lending rate to 7 per cent from 7.5 per cent at the beginning of the year, as concerns around the US Federal Reserve's policy decisions ease and the rupiah stabilises.
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Traders said the debt sale reduced the level of naira liquidity in the money market and pushed up the overnight interbank lending rate to 15 percent, up from 6.7 percent where it closed the previous day.
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The central bank unexpectedly cut its key lending rate by 25 basis points on Wednesday, as policy makers sought to revitalise an economy growing at its weakest pace in 16 years and facing heightened political uncertainty.
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Bhattacharya hoped recent lending rate cuts by banks including SBI, after they were flush with billions of dollars of deposits following the banknote ban, would help "kickstart" credit growth, which is hovering near two-decade lows.
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The People's Bank of China (PBOC) has slashed banks' reserve requirements four times this year, and financial markets are wondering if it is considering more aggressive steps such as a cut in its benchmark lending rate.
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Cairo's blue-chip index dropped 2.5 percent after the central bank hiked its overnight deposit rate and overnight lending rate by two percentage points - its first increase since a hike of three percentage points in November.
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The Fed hiked the benchmark overnight lending rate a quarter of a percentage point while solid expansion in the world's largest economy encouraged it to project a slightly faster pace of tightening than was initially anticipated.
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Following a one-week transition process announced by the central bank on Thursday, the overnight borrowing rate will be at 22.5 percent, overnight lending rate at 25.5 percent, and the late liquidity window at 27 percent.
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After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 percent from 13 percent, while three-year loan rates will now be 8.15 percent from 9.05 percent previously.
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ISTANBUL, Aug 23 (Reuters) - Turkey's central bank cut borrowing costs for the sixth straight month on Tuesday, lowering its overnight lending rate by 25 basis points despite high inflation and worries about possible credit rating downgrades.
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Traders attributed the generally firmer rate to tight availability of the RTGS a day after the central bank hiked its overnight lending rate to 50% from 15% and announced plans to try to curtail RTGS liquidity.
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The Federal Reserve is widely expected to raise its lending rate this week, and members of the House and Senate conference committee on the tax plan appear to be close to agreement on a final bill.
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The lending rate among commercial lenders opened at 70 percent on Tuesday, but fell to around 29.33 percent on Thursday after the injection of cash from matured treasury bills repayment by the central bank boosted liquidity.
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On Monday, U.S. interest rates futures implied traders expect the Fed to lower its benchmark overnight lending rate by at least 50 basis points by the end of the year, according to CME Group's FedWatch program.
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The December meeting signaled an end to a mini-easing cycle beginning in July that brought the Fed's benchmark overnight lending rate down by three quarters of a percentage point to a range of 1.50-1.75%.
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The seven-member board voted unanimously to maintain the lending rate at 7.75 percent for a third time last month, after raising it 325 basis points over the course of a year to battle inflationary pressure.
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The U.S. central bank has raised rates twice this year and currently forecasts another hike in its benchmark lending rate from its current target range of 1.00 percent to 1.25 percent by the end of 2017.
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The U.S. has much higher interest rates than Europe or Japan on a relative basis, but the Fed's overnight lending rate is still close to zero, its historical low from the aftermath in the financial crisis.
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Kumar explained that corporate loans are linked to the marginal cost of lending rate, which is the minimum rate of interest banks can charge businesses to lend them money and depends on the cost of deposits.
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NAIROBI, Sept 25 (Reuters) - Kenya's parliament rejected on Wednesday the Finance Ministry's request to scrap commercial lending rate caps, a lawmaker who was present during a vote on the 2019/20 (July-June) fiscal budget said.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 14 basis points in the second quarter to 5.67 percent, the People's Bank of China's latest quarterly monetary report showed.
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Only about a third of the 138 IPOs priced over the past decade yielded returns above the benchmark interbank lending rate, Thomson Reuters data showed, with the remainder losing part or all of the amount initially invested.
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BUENOS AIRES, Aug 8 (Reuters) - Argentina's central bank kept its benchmark seven-day interbank lending rate unchanged at 26.25 percent on Tuesday, the monetary authority said in a statement, noting that inflation expectations remained above its targets.
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That's six basis points lower than the previous one-year rate, and 10 basis points lower than the previous benchmark lending rate over a comparable period, pointed out Minyan Liu, associate managing director at Moody's Investors Service.
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Part of the problem seemed to be that lenders continued to use an old benchmark lending rate to price loans – a measure unchanged at 4.35% since 2015 – despite efforts several years ago to move away from it.
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MOSCOW (Reuters) - The Russian central bank left its main lending rate at 11 percent on Friday as expected, but its rhetoric about the need to maintain tight monetary policy was more hawkish than many analysts had expected.
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The quarter-percentage-point rise in the overnight lending rate, which marked the third hike this year, came along with an increase to the Fed's 2018 gross domestic product growth forecast to 2.5 percent from 2.1 percent.
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Major commercial banks were called upon to cut their average lending rate for SMEs by 1 percentage point in the fourth quarter, compared with the first quarter, and remove unnecessary procedures and surcharges for financing, Xinhua said.
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State Bank of India cut its so-called marginal cost of funds-based lending rate (MCLR) by 21 basis points across maturities on Sunday after a surge in deposits in old, banned 21.1- and 225,000-rupee notes.
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The Bank of England lowered its key lending rate to 229 percent from 0.5 and said it would take "whatever action is necessary" to achieve stability in the wake of Britain's vote to leave the European Union.
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The Bank of England lowered its key lending rate to 252 percent from 259 and said it would take "whatever action is necessary" to achieve stability in the wake of Britain's vote to leave the European Union.
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The central bank unexpectedly cut its key lending rate by 25 basis points early this month, as policy makers sought to revitalise an economy growing at its weakest pace in 16 years and facing heightened political uncertainty.
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Eleven of the 16 analysts and economists surveyed by Reuters earlier this week said they expect the Bank of Mexico (Banxico) to hold the key lending rate at 8.25%, the level it has maintained since Dec. 20.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 22 basis points in the first quarter to 5.96 percent, following a 2 basis points drop in the previous quarter.
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China's central bank unexpectedly trimmed a closely watched lending rate on Monday, the first such cut in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth.
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In a presentation to economists posted on its website a day after it cut its overnight lending rate by 50 basis points, the bank also said it expects an improvement in the current account balance to continue.
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U.S. borrowing costs have risen broadly as the Federal Reserve has raised its benchmark lending rate from near zero three years ago to between 25.9 percent to 26.8 percent after the central bank's policy meeting last week.
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Major U.S. indexes scaled record peaks on a busy day of corporate earnings reports, as the Fed maintained its benchmark lending rate and noted that both overall inflation and a measure of underlying price gains had declined.
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CAIRO, Aug 16 (Reuters) - Egypt's central bank left its main interest rates unchanged on Thursday, as expected, with its deposit rate at 16.75 percent and the overnight lending rate at 17.75 percent, it said in a statement.
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In fact, they fell to a new low for the year this afternoon, a reaction in part to the Federal Reserve's decision earlier today to raise its benchmark overnight lending rate for the fourth time in 2018.
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LAGOS, April 21 (Reuters) - Nigeria's interbank lending rate climbed by around 20 percentage points on Friday after the central bank's sale of dollar forwards to offset a backlog of forex obligations drained cash from the money market.
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HARARE, March 26 (Reuters) - Zimbabwe central bank cut its main lending rate to 25% from 35% on Thursday as part of measures to support the economy as it braces for the coronavirus pandemic, governor John Mangudya said.
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Last month the central bank cut its benchmark lending rate for the first time since June 2014, pointing to slowing inflation and increasing slack in the economy, and fuelling expectations that further rate cuts could be coming.
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Bank stocks have struggled over the past month as the Fed in July cut the overnight lending rate for the first time in 11 years and promised to remain "data dependent" and more flexible with monetary policy.
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Last month the central bank cut its benchmark lending rate for the first time since June 2014, pointing to slowing inflation and increasing slack in the economy, and fuelling expectations that further rate cuts could be coming.
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Analysts also expect the People's Bank of China (PBOC) to announce more cuts in banks' reserve requirement ratios (RRR), and predict further reductions in the country's one-year loan prime rate (LPR), its new benchmark lending rate.
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PRETORIA, Jan 16 (Reuters) - The South African Reserve Bank cut its main lending rate by 25 basis points (bps) to 6.25% on Thursday in a unanimous decision, citing a lower inflation forecasts and an improved risk profile.
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China is widely expected to cut its benchmark lending rate on Thursday, which would add to a raft of measures aimed at limiting the impact from business shutdowns and travel curbs on the world's second-largest economy.
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SHANGHAI (Reuters) - China is widely expected to cut its benchmark lending rate on Thursday, according to a survey of traders and analysts, after the central bank lowered the interest rate on medium-term loans earlier this week.
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SHANGHAI (Reuters) - China is widely expected to cut its benchmark lending rate on Thursday, according to a survey of traders and analysts, after the central bank lowered the interest rate on medium-term loans earlier this week.
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India's central bank kept its key lending rate on hold in a shock decision that spooked markets on Thursday, even as it slashed its growth forecast for the economy to its lowest level in over a decade.
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BOGOTA, Aug 31 (Reuters) - Colombia's central bank is expected to hold its benchmark lending rate for the first time in a year on Friday to help a sluggish economy, even though inflation remains well above the target.
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China and Hong Kong stocks started the week on a strong note on Monday as a cut in a key interbank lending rate on Monday stoked hopes of more stimulus measures to shore up the slowing economy.
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The People's Bank of China left its one-year lending rate unchanged on Tuesday, but analysts expect banks to set loan prime rates lower at Friday's monthly fixing, which would reduce borrowing costs for consumers and companies.
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The Fed is expected to lift its benchmark overnight lending rate by a quarter of a percentage point to a range of 0.73 percent to 1.75 percent at the end of a two-day meeting on Wednesday.
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China cut its new one-year benchmark lending rate for the second month in a row and India's government announced deep cuts in corporate taxes to revive flagging growth, both aiding risk sentiment earlier in the day.
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Although China has in recent years given commercial banks more leeway in setting lending rates, the benchmark lending rate remains a key reference for them to price loans, hampering the central bank's bid to lower corporate funding costs.
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Turkey's central bank cut interest rates for the fifth straight month on Tuesday, lowering its overnight lending rate by an expected 25 basis points days after a failed coup shook the country and briefly roiled its financial markets.
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In a statement that marked the end of the era of "accommodative" monetary policy, Fed policymakers lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 22 percent to 24 percent.
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Between that and a weaker global economy, the Fed reiterated it would be "patient" in deciding on any further changes to its overnight benchmark lending rate, which it left in a range of 2.25 percent to 2.50 percent.
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Earlier in the day, the ECB chose to hold interest rates steady, keeping its main refinancing rate unchanged at 0.0 percent; the marginal lending rate unchanged at 0.25 percent and the deposit facility rate unchanged at -43 percent.
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KAMPALA, April 4 (Reuters) - Uganda's central bank lowered its benchmark lending rate to 16 percent on Monday from 17 percent previously, saying real growth had dipped at the start of this year and that consumer demand remains subdued.
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The U.S. Federal Reserve is seen as certain to cut its overnight benchmark lending rate at its July 30-31 policy meeting, with a 25-basis-point cut viewed as more likely than a 50-basis-point reduction.
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The so-called TJLP lending rate, currently set on a quarterly basis by the National Monetary Council, will be replaced for a new rate based on yields paid by inflation-linked NTN-B bonds, the Planning Ministry said.
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The Fed has hiked its benchmark overnight lending rate nine times since December 2015, and reduced the bonds it is holding on its balance sheet by about $600 billion in a program that began nearly two years ago.
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Amid President Donald Trump's intense political pressure and persistent market expectations, the policymaking Federal Open Market Committee dropped the target range to 23.7% to 43% for its overnight lending rate, or 24 basis points from the previous level.
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The average lending rate for the balance of loans made by domestic banks stood at 1.098 percent in February, extending a record low for a fourth straight month, data released by the Bank of Japan showed on Wednesday.
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The bank hiked its overnight deposit rate to 18.75 percent from 16.75 percent and its overnight lending rate to 19.75 from 17.75 percent after hiking them by 200 points each at the last policy-setting meeting in May.
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The central bank also decided to increase its overnight deposit rate to 1.25 percent from 1.00 percent, the one-month deposit rate to 2.15 percent from 1.75 percent, and the lending rate to 3.25 percent from 3.00 percent.
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The decision lifted the U.S. central bank's benchmark lending rate by a quarter percentage point to a target range of 22017 percent to 21.9 percent as it proceeds with its first tightening cycle in more than a decade.
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McDermott — who previous imposed multi-million pound fines on banks for rigging the LIBOR inter-bank lending rate — told lawmakers on Wednesday she was "not exactly delighted" with how Osborne announced her decision without warning her in advance.
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The Monetary Policy Committee kept the overnight deposit rate at 14.75 percent and the overnight lending rate at 15.75 percent, the bank said in a statement, as predicted by seven out 11 economists polled by Reuters this week.
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Sterling rose 0.73 percent against the dollar, rebounding from a one-month low hit after the Bank of England raised its lending rate for the first time in a decade last Thursday but forecast only gradual tightening ahead.
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PRETORIA (Reuters) - South Africa's central bank unexpectedly cut its benchmark lending rate for the first time in five years on Thursday, citing weak growth and easing inflation, and denied any pressure from recent political attacks on its mandate.
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A sustainable single-digit lending rate goal can be achieved if Indonesia is able to maintain relatively low inflation and economic stability while at the same time taking measures to reduce barriers to entry and thereby boosting competition.
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Fears about the impact of the trade fight on the economic expansion, the longest in history, prompted the Fed to cut its short-term lending rate by 25 basis points last month for the first time since 2008.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, edged up 9 basis points in the third quarter to 5.76 percent, following a rise of 14 basis points in the second.
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MEXICO CITY (Reuters) - Mexico's central bank will likely cut its benchmark lending rate for the third meeting in succession this week given that inflation is in check and the economy is stagnating, a Reuters poll showed on Monday.
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The weighted average lending rate for non-financial firms, a key indicator of corporate funding costs in China, rose by 49 basis points in the first nine months of 2017 to 5.76 percent, according to central bank data.
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The overnight lending rate stood at 50 percent against 29.33 percent the previous day because commercial lenders scrambled for cash on Friday to pay for dollar purchase at a central bank foreign exchange intervention auction targeting certain sectors.
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Beijing has ramped up funding support for virus-hit regions and the central bank has cut several key rates, including the benchmark lending rate, and has urged banks to give cheap loans and payment relief to exposed companies.
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New Delhi (CNN Business)India's central bank has cut interest rates for a fourth time this year, slashing its key lending rate to the lowest level in nine years in a bid to support the country's faltering economy.
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While the effort restored a measure of order to the short-term bank funding market, it was not enough to stop the Fed's benchmark lending rate from rising on Tuesday above its targeted range of 2.00% to 2.25%.
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China, Australia's largest trading partner, is expected to cut its benchmark lending rate on Thursday, according to a survey of traders and analysts, after the central bank lowered the interest rate on medium-term loans earlier this week.
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A Reuters snap survey last week showed that China's financial markets were nearly evenly divided over whether the benchmark lending rate would be lowered this month in a further bid to support the sluggish economy or kept steady.
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While the effort restored a measure of order to the short-term bank funding market, it was not enough to stop the Fed's benchmark lending rate from rising on Tuesday above its targeted range of 2.00% to 2.25%.
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The People's Bank of China (PBOC) has left its benchmark lending rate unchanged since an October 22018 cut, and said specifically that Thursday's action should not be seen as full-blown policy tightening, like that of the Fed.
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After peaking in 2008 at over 5 percent, the Euribor rate — an interbank lending rate that is the figure typically used by European banks to determine the financing costs of home loans — began to fall sharply in 2009.
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Fourteen of 16 analysts and economists surveyed by Reuters said they expect the Bank of Mexico, known locally as Banxico, to lower the key lending rate to 7.75%, following the first cut since June 13 at its Aug.
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China cut its new one-year benchmark lending rate for the second month in a row on Friday, to 4.20%, as the central bank seeks to guide borrowing costs lower for an economy hit by the Sino-U.
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Fourteen of 16 analysts and economists surveyed by Reuters said they expect the Bank of Mexico, known locally as Banxico, to lower the key lending rate to 7.75%, following the first cut since June 2014 at its Aug.
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Fourteen of 16 analysts and economists surveyed by Reuters said they expect the Bank of Mexico, known locally as Banxico, to lower the key lending rate to 7.75%, following the first cut since June 13 at its Aug.
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HARARE, June 24 (Reuters) - Zimbabwe's central bank said on Monday it had raised its overnight lending rate to 50% from 15% to support the local currency, after the government banned the use of foreign currencies as legal tender.
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Indications that central bank policymakers could slash the overnight lending rate to single-digit percentage rates mean that the government, which controls more than half outstanding loans in Brazil, wants more private-sector involvement in the market, he said.
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Financial markets had widely expected the Fed to reduce its key overnight lending rate by a quarter of a percentage point to a target range of 2.00% to 2.25%, but many traders expected clearer confirmation of forthcoming rate cuts.
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The Fed has held its overnight lending rate for banks at a target range of between 0.25 and 0.50 percent since it lifted the benchmark interest rate for the first time in a decade from near zero last December.
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A growing number of investors now believe that the U.S. central bank may have to cut its overnight lending rate later in 2019 as the waning effects of Trump's tax cuts and mounting trade disputes weigh on economic forecasts.
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Last week the central bank cut its benchmark lending rate for the first time since June 2014, citing slowing inflation and increasing slack in the economy, and fueling expectations that further monetary policy easing could be on the way.
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Irrespective of whether Trump imposes tariffs, 15 of the 17 analysts polled said the Mexican central bank would keep its benchmark lending rate unchanged at 8.25% when it makes its next monetary policy decision at the end of June.
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The rand was flat while bond yields fell after South Africa's central bank cut its main lending rate on Thursday, in a widely expected move to counter floundering economic growth, and revised its forecasts on inflation and the economy.
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Hernandez will help the board at its next policy meeting on Friday decide whether to change the key lending rate from its current 7.5 percent as the bank seeks to bolster sluggish economic growth while tackling still-high inflation.
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MEXICO CITY (Reuters) - Reducing Mexico's stubborn core inflation, running at 3.8 percent, is a challenge for the central bank, its governor told Reuters on Thursday, after it cut its key lending rate for the first time since June 2014.
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BANGKOK, April 5 (Reuters) - Thailand's top lender Bangkok Bank said on Tuesday it would cut its key lending rate, the fourth of the country's biggest banks to cheapen credit in a move they say would help the flagging economy.
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The central bank's decision Wednesday to lower the overnight lending rate to a target range of 1.50% to 1.75% marks the third rate cut since July, when the Fed lowered rates for the first time since the financial crisis.
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Though the Fed voted to cut its overnight lending rate by 25 basis points, yields rose slightly after officials suggested in a statement that its third rate cut for 2019 could be followed by a pause in policy adjustments.
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Fears about the impact of the trade tensions on the U.S. economic expansion, the longest in history, prompted the Fed to cut its short-term lending rate by 25 basis points last month for the first time since 2008.
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Fears about the impact of the trade war on the U.S. economic expansion, the longest in history, prompted the Fed to cut its short-term lending rate by 25 basis points last month for the first time since 0.23.
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In a policy statement that marked the end of the era of "accommodative" monetary policy, Fed policymakers lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 22020 percent to 22021 percent.
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ISTANBUL, Oct 20 (Reuters) - Turkey's central bank kept its overnight lending rate on hold on Thursday, in a surprise move after seven straight months of cuts and hours after President Tayyip Erdogan declared himself an "enemy" of interest rates.
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If you told some time travelers who'd just arrived from 2007 that the E.C.B. had an official bank lending rate of negative 0.4 percent and was buying 80 billion euros of bonds each month, you would blow their minds.
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Rather than cutting rates or launching large-scale stimulus programs, China's central bank has been more conservative and on Friday even kept a new benchmark lending rate called the loan prime rate unchanged in March from the prior month.
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John Mangudya, the central bank's governor, said in a statement that the bank's monetary policy committee had decided to cut the main lending rate from 35% and expected banks to cut lending rates to customers affected by the coronavirus.
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The Fed's current benchmark lending rate is set in a range of 1.50-1.75%, and rate futures markets are pricing in a cut of at least a quarter percentage point at the Fed's next scheduled meeting March 17-23.
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HARARE, Nov 18 (Reuters) - Zimbabwe's central bank cut its main lending rate to 35% from 70% effective Wednesday after a meeting of the monetary policy committee, which said the inflation outlook was positive despite a recent spike in prices.
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Next week, the central bank will change its reference rate from the interest rate on 35-day Lebac securities to the 7-day interbank lending rate, and will now auction off Lebac once a month rather than every week.
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The weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 22 basis points in the first quarter to 5.96 percent, the People's Bank of China said in its quarterly report on Friday.
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SHANGHAI, Feb 19 (Reuters) - China is widely expected to cut its benchmark lending rate on Thursday, according to a survey of traders and analysts, after the central bank lowered the interest rate on medium-term loans earlier this week.
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Kenya's central bank cut its benchmark lending rate for the first time in more than a year on Monday, saying tightening fiscal policy had provided room to ease in an effort to bolster an economy operating below its potential.
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MEXICO CITY (Reuters) - Mexican annual inflation likely dipped just below the central bank's target level in November, reinforcing expectations of a further cut to the central bank's benchmark lending rate later this month, a Reuters poll showed on Friday.
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SHANGHAI, Nov 20 (Reuters) - China's central bank cut its new benchmark lending rate on Wednesday for the third time since its debut in August, as widely expected, as the authorities move to lower financing costs to the real economy.
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The bank said on Monday it would continue to set a weekly policy rate in 123, but in January would stop tying the rate to the 35-day Lebac securities, moving instead to a seven-day interbank lending rate.
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The Fed announced Wednesday that it would take down its benchmark overnight lending rate to a target range of 1.75% to 2%, but offered few indications that further reductions are ahead — with members split on what to do next.
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The federal fund futures contract expiring in January 2020 FFF20203, watched closely as a gauge of where the Fed's benchmark overnight lending rate will be at the end of next year, surged 10.5 basis points in price on Monday.
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In a policy statement that marked the end of the era of "accommodative" monetary policy, Fed policymakers lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 2.00 percent to 2.25 percent.
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It also cut its longer-term view of the appropriate federal funds rate, its benchmark lending rate, by a quarter point to 3 percent and indicated it would be less aggressive in raising rates after the end of this year.
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PRETORIA, Nov 22 (Reuters) - South Africa's central bank increased its benchmark lending rate by 25 basis points to 6.75 percent on Thursday in a close call, saying while near term inflation was trending lower the longer term outlook remained elevated.
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Though many have recognized the growing malcontent surrounding the high levels of corporate indebtedness, Yellen and others are quick to point out that interest rates have remained historically low in recent years despite recent increases to the overnight lending rate.
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The seven-member board held the key lending rate steady at 7.75 percent in August, after nearly a year of consecutive increases aimed at curbing inflation, which stands at more than double the upper limit of the bank's target range.
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On top of that, bond market volatility remains obstinately low even as yields grind higher and prices lower in the face of a booming economy and a hawkish Fed, which is expected to raise its benchmark lending rate on Wednesday.
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South Africa's central bank increased its benchmark lending rate by 25 basis points to 6.75 percent on Thursday in a close decision, saying the longer term inflation outlook remained elevated and that it could not risk waiting until later to act.
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BOGOTA, Feb 19 (Reuters) - Colombia's central bank raised its benchmark lending rate on Friday to 6.25 percent, the sixth consecutive monthly increase, amid calls for the board to take measures to control the current account deficit and counteract inflationary pressures.
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Last month, the central bank's eight-member board kept its benchmark lending rate unchanged at 14.25 percent for the sixth straight meeting, despite widespread appeals from politicians, investors and business leaders to cut borrowing costs and reverse the economic downturn.
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News of the stagnation will likely lend weight to forecasts that the Mexican central bank could cut its benchmark lending rate for a second time in succession when its board makes its next monetary policy decision near the end of September.
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The central bank has cut its overnight lending rate, the highest of the multiple rates it uses to set policy, by a total of 125 basis points over the last three months to 383 percent, as inflation, particularly food inflation, cooled.
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Analysts at Capital Economics said they believe the benchmark lending rate will be cut in the weeks ahead, though sources have told Reuters such a move may be a last resort if the economy does not respond to previous support measures.
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The weighted average lending rate for companies and home buyers fell 3 basis points in the second quarter to 5.66%, after a rise of 5 basis points in the first quarter, the central bank said in a policy report on Friday.
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The Monetary Policy Committee raised the overnight deposit rate unexpectedly on Thursday to 11.75 percent, its highest in more than a decade and increased the overnight lending rate by 100 basis points also to 12.75 percent, its highest since 2008.
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Prices for futures contracts on the Fed's benchmark overnight lending rate implied that investors saw a 34 percent chance of a rate increase next month, up from 19 percent shortly before the release of the minutes, according to CME Group.
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The central bank unexpectedly cut its key lending rate by 26 basis points in April to support the economy, but policymakers must also defend a fragile rupee and prevent outflows as emerging markets come under pressure from rising U.S. interest rates.
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While financial markets had widely expected the Fed to reduce its key overnight lending rate by 25 basis points to a target range of 2.00% to 2.25%, many traders had looked for clearer confirmation of more rate cuts from Powell.
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The Fed last month left its benchmark overnight lending rate unchanged in a range of 2.25 percent to 2.50 percent, despite an apparent lack of slack in the labor market that might have raised red flags on the inflation front.
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BRASILIA, Sept 5 (Reuters) - Brazil's Senate approved a bill that creates a market-based benchmark lending rate for state lender BNDES, bolstering President Michel Temer's efforts to cut subsidized credit to large companies that has helped widen a record budget gap.
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BOGOTA (Reuters) - Colombia's central bank unexpectedly cut its key lending rate on Friday by 50 basis points in an effort to boost a sluggish economy, though policymakers were divided over the size of the reduction as inflation remained above target.
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But China watchers note the PBOC has many policy tools to choose from before turning to blunter instruments such as a lending rate cut, which would bring down financing costs across the board but risk adding to a mountain of debt.
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The bank kept its benchmark lending rate unchanged at 7 percent for a third consecutive time in September, and has since repeatedly said it might soon halt an incremental rise in interest rates that started in early 2014 to tame inflation.
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Economists in the latest Reuters poll forecast two more RRR cuts of 50 basis points each in this quarter and the fourth quarter, but did not expect the PBOC to cut its benchmark lending rate, as it did in past downturns.
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GABORONE, Aug 22 (Reuters) - Botswana's central bank left its benchmark lending rate unchanged at 5.5 percent on Tuesday, saying the outlook for price stability was positive with inflation expected to remain with its target range of 3 to 6 percent.
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The Fed lifted its benchmark lending rate by a quarter percentage point on Wednesday and said it would begin cutting its holdings of bonds and other securities this year, signalling its confidence in a growing U.S. economy and strengthening job market.
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"Growth of economic activity has slowed from its solid rate in the fourth quarter," the Fed said in a policy statement that kept its benchmark overnight lending rate, or federal funds rate, in a range of 2.25 percent to 18303 percent.
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"Growth of economic activity has slowed from its solid rate in the fourth quarter," the Fed said in a policy statement that kept its benchmark overnight lending rate, or federal funds rate, in a range of 2.25 percent to 2.50 percent.
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WASHINGTON (Reuters) - Ahead of the U.S. central bank's last policy meeting, directors at all but one of the Federal Reserve's 12 regional banks supported no change to the emergency lending rate for commercial banks, records from the discussions showed on Tuesday.
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An initial rally in the dollar after the European Central Bank cut its key lending rate to zero also pressured oil, although crude prices recovered from their lows as the euro rebounded on ECB comments that more cuts were unlikely.
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The central bank cut its key lending rate on Thursday for the first time since June 2014, citing slow inflation and increasing slack in the economy, a decision that fueled expectations that further monetary easing could be on the way.
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While financial markets had widely expected the Fed to reduce its key overnight lending rate by 25 basis points to a target range of 4.23% to 2.25%, many traders had looked for clearer confirmation of more rate cuts from Powell.
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And the weighted average lending rate for non-financial firms, a key indicator reflecting corporate funding costs, rose 13 basis points in the first quarter to 5.96 percent, following a rise of 47 basis points in 2017, central bank data showed.
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The Bank of Mexico cut its key lending rate on Thursday for the first time since June 2014, citing slow inflation and increasing slack in the economy, a decision that fueled expectations that further monetary easing could be on the way.
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Separately, China's central bank unexpectedly trimmed a key interbank lending rate on Monday, the first easing in the liquidity tool in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth.
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Growth in Asia's third largest economy will remain one the fastest in the world this year, economists predict, and with inflation in control, they expect the Reserve Bank of India to cut its lending rate in the last quarter of 2016.
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Armando Morales, the International Monetary Fund's representative in Kenya, said small firms and individuals could be deemed too risky by banks, whose lending rate will be capped at 400 basis points above the Central Bank rate, now at 10.5 percent.
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ISTANBUL (Reuters) - Turkey's central bank cut interest rates for the fifth straight month on Tuesday, lowering its overnight lending rate by an expected 25 basis points days after a failed coup shook the country and briefly roiled its financial markets.
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