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China cut benchmark lending rate to lower funding cost, boost economy

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China cut its new benchmark lending rate on Wednesday, as widely expected, moving to drive down funding costs and boost the slowing economy an economy hurt by slowing demand and trade tariffs.

The one-year loan prime rate (LPR) was lowered by five basis points to 4.15 per cent from 4.20 per cent at the previous monthly fixing. The five-year LPR was also lowered by the same margin to 4.80 per cent from . . .

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