China lowers reference lending rate to boost economy hit by epidemic

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China’s banks lowered the reference lending rates after Beijing slashed a range of policy rates this month to weather the economic impact of the deadly coronavirus outbreak.

The one-year Loan Prime Rate (LPR) was cut to 4.05 per cent from 4.15 per cent previously, said the People's Bank of China (PBOC) on Thursday. The five-year LPR was set at 4.75 per cent, down from previous 4.8 per cent.

The reduction came after the PBOC lowered the rate on 200 billion yuan ($28.65 billion) worth of one . . .

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