China cut five-year benchmark lending rate by most since 2019 to support property sector, one-year rate left unchanged

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China cut its five-year benchmark lending rate by the most since the current interest rate mechanism was adopted in 2019 as Beijing seeks to revive the struggling property sector to support the slowing economy.

China, in a monthly fixing, lowered the five-year loan prime rate (LPR) by 15 basis points to 4.45%, the biggest cut since the country revamped the interest rate mechanism in August 2019 and the second LPR cut so . . .

 

 

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