The People's Bank of China kept the one-year loan prime rate (LPR) unchanged at 3.45% as expected, but surprisingly cut the five-year LPR by 25bp to 3.95%, the first time the five-year rate was cut since May 2023
The People's Bank of China kept the one-year loan prime rate (LPR) unchanged at 3.45% as expected, but surprisingly cut the five-year LPR by 25bp to 3.95%, the first time the five-year rate was cut since May 2023