The loan prime rate (LPR) has been considered China’s de facto benchmark funding cost since 2019. Photo: Reuters
The loan prime rate (LPR) has been considered China’s de facto benchmark funding cost since 2019. Photo: Reuters

China cuts benchmark loan rate for first time in almost 2 years amid mounting economic pressures

  • The one-year loan prime rate (LPR) was cut from 3.85 per cent to 3.8 per cent, the People’s Bank of China (PBOC) said on Monday
  • The five-year LPR, which is the reference for mortgages, remained at 4.65 per cent

Topic |   China's economic recovery
The loan prime rate (LPR) has been considered China’s de facto benchmark funding cost since 2019. Photo: Reuters
The loan prime rate (LPR) has been considered China’s de facto benchmark funding cost since 2019. Photo: Reuters
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