China Cuts 1-Year Loan Prime Rate For First Time Since Early 2020

China cut its benchmark loan prime rate for the first time in 20 months, on Monday. The one-year loan prime rate was lowered to 3.80 percent from 3.85 percent. At the same time, the five-year LPR was maintained at 4.65 percent. The one-year and five-year loan prime rates were last reduced in April 2020.

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