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China Cuts 1-Year Loan Prime Rate, Holds 5-Year LPR Unexpectedly

Por: RTTNews Business August 21, 2023

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China's central bank reduced the one-year loan prime rate by a smaller-than-expected margin and retained the five-year rate despite financial troubles among property developers.The People's Bank of China lowered its one-year loan prime rate, or LPR, by 10 basis points to 3.45 percent. However, the five-year LPR, the benchmark for mortgage rates, was kept unchanged at 4.20 percent. The central bank had previously reduced the one-year as... + full article



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