SHANGHAI—China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID-19 cases. The People’s Bank of China (PBOC) is walking a tight rope in its…
China Cuts Borrowing Rate More Than Expected Amid Economic Slowdown
SHANGHAI—China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second reduction this year. The country’s economy took a hit after the Chinese regime imposed extreme COVID-19 restrictions, causing huge disruptions to activity. China, in a monthly fixing, lowered the five-year loan prime rate (LPR) by 15 basis points…
China Cuts Key Rates to Boost Slowing Economy
China lowered mortgage lending benchmark rates on Jan. 20, after data earlier in the week pointed to a darkening outlook for the country’s troubled property sector. The cut to the one-year and five-year loan prime rates (LPR) followed surprise cuts by China’s central bank on Monday to its short- and medium-term lending rates for the…
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