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20th Apr 2026 10:05China+Daily Monitor
  • China’s LPRs and de-facto policy rate were unchanged in April, amid pressure on banks’ margins.
  • Banks started a new round of deposit-rate cuts, given the liquidity glut in the system from weak loan demand.
  • The MoF is offering ultra-long special bonds at record levels, taking advantage of the risk-averse mood.

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Keywords for: 21 April 2026 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence