China cut 5-year benchmark rate for first time in 21 months, market expects more easing ahead
China cut 5-year benchmark rate for first time in 21 months, market expects more easing ahead

China cut 5-year benchmark rate for first time in 21 months, market expects more easing ahead

 

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China is stepping up the monetary easing efforts to prop up a slowing economy by lowering benchmark lending rates and the market believes Beijing could ease monetary policy further before economic growth bottoms out.

The one-year Loan Prime Rate (LPR) was lowered by 10 basis points to 3.7% from 3.8% on Thursday. The five-year LPR was cut by 5 basis points to 4.6% from 4.65%, the first cut since . . .

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