News Snapshot:
China cut its lending benchmark loan prime rate (LPR) for the first time in 20 months on Monday. In a bid to prop up growth in the slowing economy. Although it remains wary of loosening conditions in the country’s highly leveraged property market. On Monday, the People’s Bank of China said it lowered the one-year loan prime rate by 0.05 percent to 3.80 percent. It was the first-rate cut since April 2020. The one-year LPR was lowered by 5 basis points to 3.80% from 3.85% previously. While the five-year LPR remained at 4.65%. The last time the central bank cut...
