China lowers one-year benchmark lending rate LPR for first time in 20 months to boost economic growth

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China lowers its benchmark lending rates - loan prime rate (LPR) - for the first time in 20 months, in a bid to boost economic growth which has been losing momentum in recent months.

The one-year LPR was lowered by 5 basis points to 3.80% from 3.85% previously, while the five-year LPR was kept unchanged at 4.65%, said the People's Bank of China (PBOC) on Monday. That marks the first LPR . . .

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