Core Viewpoint - The Loan Prime Rate (LPR) remains unchanged in June after a previous reduction, reflecting a stable monetary policy environment amid changing domestic and international conditions [1][2]. Group 1: Monetary Policy - The People's Bank of China (PBOC) announced that the one-year LPR is set at 3.0% and the five-year LPR at 3.5% as of June 20, 2025 [1]. - Following a 10 basis points reduction in May, the current economic situation does not necessitate further monetary easing in the short term, leading to expectations of stable policy rates [1][2]. Group 2: Economic Data - May economic data showed improvement, with retail sales increasing by 6.4% year-on-year, the fastest growth since early last year, and industrial output rising by 5.8% [2]. - The service sector also demonstrated growth, with a production index increase of 6.2% year-on-year, indicating overall economic resilience [2]. Group 3: Future Outlook - The second quarter GDP is expected to maintain a high growth rate, but there are concerns regarding the sustainability of demand due to potential front-loading of export and consumption [3]. - Future policies may need to adapt to economic changes, with the possibility of increased measures to support growth in the latter half of the year [3].
6月LPR报价维持不变 温彬：短期政策加码必要性不强
Xin Hua Cai Jing·2025-06-20 03:23