The move was the second cut to the lending benchmark rate this year, and the latest reduction in one of China’s key lending rates. Photo: AFP

Coronavirus: China’s benchmark loan rate cut another sign authorities are ‘serious about monetary easing’

  • The one-year loan prime rate (LPR) was lowered by 20 basis points to 3.85 per cent, while the five-year LPR was cut by 10 basis points to 4.65 per cent
  • Last week, it was confirmed China’s economy shrank 6.8 per cent in the first quarter from a year earlier
Topic |   Coronavirus pandemic
The move was the second cut to the lending benchmark rate this year, and the latest reduction in one of China’s key lending rates. Photo: AFP
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