China reported troubling data earlier this week that indicated the economic slowdown is deepening as Covid outbreaks spread and a property crisis worsens. Photo: AFP
China reported troubling data earlier this week that indicated the economic slowdown is deepening as Covid outbreaks spread and a property crisis worsens. Photo: AFP

China set to take ‘key step’ to boosting credit demand with rate cuts expected amid coronavirus, property slumps

  • China’s one-year loan prime rate (LPR) – the de facto benchmark lending rate for banks – is expected to be cut by 10 basis points from 3.7 to 3.6 per cent
  • The five-year LPR, a reference for mortgage costs, could be cut by as much as 15 points from its current level of 4.45 per cent

China reported troubling data earlier this week that indicated the economic slowdown is deepening as Covid outbreaks spread and a property crisis worsens. Photo: AFP
China reported troubling data earlier this week that indicated the economic slowdown is deepening as Covid outbreaks spread and a property crisis worsens. Photo: AFP
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