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PBOC cut benchmark lending rate LPR by 10bp: One-year LPR cut to 3.55% from 3.65%: Five-year LPR cut to 4.2% from 4.3%
#BREAKING: #PBOC cut benchmark lending rate LPR by 10 bp
— YUAN TALKS (@YuanTalks) June 20, 2023
One-year LPR cut to 3.55% from 3.65%
Five-year LPR cut to 4.2% from 4.3%
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China cuts two more key lending rates as economy sputters
The People’s Bank of China cut another key policy rate on Tuesday for the first time in 10 months, as the world’s second largest economy shows signs of stalling. The latest rate cut come on the heels of two previous easing moves last week, as authorities seek to prop up growth. The Chinese central bank cut the one-year loan prime rate by 10 basis points from 3.65% to 3.55%, and trimmed the five-year loan prime rate by 10 basis points from 4.3% to 4.2% — for the first time since August. chart Tuesday’s move was widely expected after a slew of economic data in the last few weeks — from industrial production ... (full story)