View full page at cryptocraft.com

 

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%

^ Added at

China cuts two more key lending rates as economy sputters

From cnbc.com

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 and fixed ... (full story)

Story Stats

  • Posted:
  • Category: High Impact Breaking News