Published Tue, May 20, 2025 · 09:30 AM
[SHANGHAI] China cut benchmark lending rates for the first time since October on Tuesday, after Beijing announced sweeping monetary easing measures earlier this month to support the broad economy.
The one-year loan prime rate (LPR) was lowered by 10 basis points to 3.0 per cent from 3.1 per cent previously, while the five-year LPR was reduced by the same margin to 3.5 per cent from 3.6 per cent.
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.
Chinese authorities have announced a raft of stimulus measures, including interest rate cuts and a major liquidity injection, as Beijing steps up efforts to soften the economic damage caused by the trade war with the United States. REUTERS
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