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CHINA CUTS KEY LENDING RATES TO SUPPORT GROWTH

  • NEWS Desk Global
  • Oct 21, 2024
  • 1 min read


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China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy.

The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10% from 3.35%, while the five-year LPR was cut by the same margin to 3.6% from 3.85% previously. The lending rates were last cut in July.

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