Beijing, Oct 21, 2024 (AFP) - China's central bank cuts two key rates to boost economy

NAMPA / AFP

2024-10-21

China's central bank on Monday said it had cut two key benchmark interest rates, as Beijing looks to boost sluggish spending in the world's second-largest economy. The one-year Loan Prime Rate (LPR), which constitutes the benchmark for the most advantageous rates lenders can offer to businesses and households, was cut from 3.35 percent to 3.1. The five-year LPR, the benchmark for mortgage loans, was cut from 3.85 to 3.6. Both rates were last cut......

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