China cuts key lending rates by 25bps
MG News | October 21, 2024 at 01:31 PM GMT+05:00
October 21, 2024 (MLN): The People’s Bank of China (PBoC) lowered its key lending rates to new lows at the October fixing as part of a package of stimulus measures to revive the economy.
The one-year loan prime rate (LPR) was cut by 25 basis points to 3.1%, according to a statement by the PBoC Monday.
The five-year rate, a reference for property mortgages, was also reduced by 25bps to 3.6%.
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