Diamond Member Pelican Press 0 Posted May 20, 2025 Diamond Member Share Posted May 20, 2025 This is the hidden content, please Sign In or Sign Up China cuts benchmark lending rates for the first time in 7 months in Beijing’s growth push A general view of shoppers is seen in a retail store in Shanghai, China, on May 10, 2025, as China’s CPI declines in April amid a trade war. Ying ***** | Nurphoto | Getty Images China cut its key lending rates by 10 basis points on Tuesday, as Beijing ramps up efforts to boost its economy at a time when trade tensions threaten to derail growth. The People’s Bank of China trimmed the 1-year loan prime rate to 3.0% from 3.1%, and the 5-year LPR to 3.5% from 3.6%. This marked the first reduction in rates since the central bank’s 25-basis-point cut in October, as Beijing intensifies efforts to shore up its economy. The benchmark lending rates — normally charged to banks’ best clients — are calculated monthly based on designated commercial banks’ proposed rates submitted to the PBOC. The 1-year LPR influences corporate and most household loans in China, while the 5-year LPR serves as a benchmark for mortgage rates. The rate cuts came as a slew of state-backed commercial lenders moved to reduce their deposit rates by as much as 25 basis points earlier Tuesday in an effort to protect their net interest margin, paving the way to lower key lending rates. This is breaking news. Please refresh for updates. This is the hidden content, please Sign In or Sign Up #China #cuts #benchmark #lending #rates #time #months #Beijings #growth #push This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/254040-china-cuts-benchmark-lending-rates-for-the-first-time-in-7-months-in-beijing%E2%80%99s-growth-push/ Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.