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PBOC unexpectedly lowered interbank lending rate, LPR cut widely expected this Wednesday

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China’s central bank unexpectedly trimmed a key interbank lending rate on Monday, the first cut of the rate in more than four years and a signal that policymakers are ready to act to shore up confidence following a string of poor economic data.

It's widely expected that the loan prime rate - the new benchmark interest rate for banks' lending - will be lowered by another 5 basis points when the central bank announces its monthly LPR . . .

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