The People's Bank of China will announce reductions in one- and five-year prime lending rates, which affect borrowing costs for businesses and households, at a monthly meeting on Monday, after making a surprise cut to its average rate closely related. term financing rate last week. Policymakers in Beijing have struggled to counter a host of challenges since lifting pandemic restrictions earlier this year, including a slowdown in the real estate sector, weaker exports, record youth unemployment and price deflation as consumer confidence declines. consumer. Most economists surveyed by Bloomberg expect the one-year LPR, which backs mortgage loans, to be cut by 15 basis points, the largest margin since January 2022. A similar cut to the five-year rate would be the largest in one year. . The LPR rates are currently 3.55 and 4.2 percent, respectively. Economists surveyed were unanimous in anticipating a cut to the LPR, which generally follows a reduction in the medium-term lending facility.
The MLF rate, which manages banking sector liquidity, is now 2.5 percent, the lowest since it was launched in 2014 after last week's cut. Beijing has stopped short of unleashing major stimulus despite months of Job Function Email Database disappointing economic data, with consumer prices falling into deflationary territory in July and growth of just 0.8 percent in the second quarter from the previous three months. Consumers will have to be attentive this Saturday, August 19, 2023. There will be times when it will be more advisable to run the washing machine, iron or use the oven. Knowing which are the cheapest allows you to concentrate your spending and save on the bill at the end of the month. The average reference for the entire day in the wholesale market will be 109.85 euros per megawatt hour (MWh), according to the operator OMIE. Again, hour to hour there will be big differences.
The wholesale market figures are reflected in the consumer's receipt. The most expensive time will be reached between when the price of the bill will rise euros per kilowatt hour (kWh), according to data from Red Eléctrica. The cheapest hour, on the opposite side, will be recorded between and when the kilowatt hour will be paid euros.This is the hourly cost of electricity for this Monday at the regulated rate according to Red Eléctrica. These figures already include the cost of the daily and intraday wholesale market, regularization services, financing, the cost of variable marketing, tolls and taxes. It may also have other concepts such as payments for capacity, surpluses or deficits from renewable auctions and costs for interruptibility services.