Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China September 28, 2018.
Starting on Jan. 1, financial institutions will be prohibited from signing floating-rate loan contracts based on the previous benchmark bank lending rate, the People’s Bank of China said in a statement on its website on Saturday. “The purpose of the step is to make interest rates more market-driven and help lower financing costs,” said Wen Bin, an economist at Minsheng Bank in Beijing.The previous benchmark bank lending rate has been kept steady at 4.35% since October 2015.Analysts expect the central bank to cut the MLF rate by 20-30 basis points in 2020, which could pave the for way for lowering the LPR further.China’s economic growth slowed to 6.
Yet China is in debt trap themselves...
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Asia remembers devastating 2004 tsunami - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Communities across Asia commemorated the 230,000 victims of the Indian Ocean tsunami on Thursday, the 15th anniversary of one of the world’s most deadly disasters. Some of us we are not enjoying Christmas since the havy rains took place in KZN it left this situation till today no roofing.
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South African polar research vessel to set sail on Friday - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South Africa's dedicated polar research vessel, the SA Agulhas, with environmental scientists on board will set sail from Cape Town to the Antarctica on Friday. I hope they can find a way to re freeze the ice caps and reverse this global warming, otherwise sisemasimbeni
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