The new one-year loan prime rate (LPR) was lower than the previous LPR of 4.31 per cent and also lower than the old benchmark lending rate of 4.35 per cent. Photo: AP
China cut interest rates as part of market-oriented reform amid slowing economy
- China lowered its lending reference rate to 4.25 per cent from the one-year official benchmark of 4.35 per cent as part of a long-term modernisation process
- The People’s Bank of China’s move offers Beijing a more flexible tool in managing impact from the trade war with US
Topic |
China economy
The new one-year loan prime rate (LPR) was lower than the previous LPR of 4.31 per cent and also lower than the old benchmark lending rate of 4.35 per cent. Photo: AP