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Business and Market Discussion / View from Australia

2020-02-21

Business and Market Discussion / View from Australia

2020-02-21
In a widely expected move, China has cut its reference lending rate, the Loan Prime Rate. The 1-year rate was lowered by 10bps to 4.05%. The 5-year tenor, against which mortgage rates are benchmarked, was cut by 5bps to 4.75%.

China's overall credit surged in January, with new bank loans hitting an all-time high. Total social financing, the broadest measure of credit in the economy was 5.07 trillion yuan in January, the largest print since the central bank started publishing this data in 2017.

The latest analysis from Oxford Economics shows the coronavirus outbreak could cost the global economy $1.1tn in lost income if it spreads into a pandemic.The economic forecaster warned that the spread of the virus to regions outside Asia would knock 1.3% off global growth this year.


On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Kenny Wen at Everbright Sun Hung Kai. With the view from Australia is Toby Lawson from Societe Generale.

Money Talk

A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning 8 to 8:30 a.m. on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at moneytalk@rthk.hk, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
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