WIKIFX REPORT: CHINA’S BANKS SET TO CUT KEY RATES AMID COVID, PROPERTY SLUMPS – BLOOMBERG

Based on Expert expectations, reports shows that Chinese banks will likely trim their benchmark loan prime rates Monday for the first time in months to help spur borrowing demand and reverse a sharp slump in consumer and business sentiment, per Bloombergs latest survey published on late Thursday.

The one-year loan prime rate -- the de facto benchmark lending rate for banks --is expected to be cut by 10 basis points to 3.6%, according to all 16 economists polled by Bloomberg. That would be the first reduction in that rate since January.