China’s one-year loan prime rate (LPR) was cut from 3.80 per cent to 3.7 per cent, the People’s Bank of China said on Thursday, while the reference rate for mortgages was also cut. Photo: AFP
China’s one-year loan prime rate (LPR) was cut from 3.80 per cent to 3.7 per cent, the People’s Bank of China said on Thursday, while the reference rate for mortgages was also cut. Photo: AFP
Economy /  Economic Indicators

China cuts mortgage reference rate for first time in nearly 2 years, benchmark lending rate for second straight month

  • China’s one-year loan prime rate (LPR) was cut from 3.80 per cent to 3.7 per cent, the People’s Bank of China (PBOC) said on Thursday
  • The five-year LPR, which is the reference for mortgages, was also cut from 4.65 per cent to 4.6 per cent

Andrew Mullen
Andrew Mullen

Updated: 3:01pm, 20 Jan, 2022

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China’s one-year loan prime rate (LPR) was cut from 3.80 per cent to 3.7 per cent, the People’s Bank of China said on Thursday, while the reference rate for mortgages was also cut. Photo: AFP
China’s one-year loan prime rate (LPR) was cut from 3.80 per cent to 3.7 per cent, the People’s Bank of China said on Thursday, while the reference rate for mortgages was also cut. Photo: AFP
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