China’s central bank on Tuesday (take video) cut the market-based benchmark one-year loan prime rate or L-P-R to 3-point-55-per cent, down from 3-point-65-per cent. The over-five-year loan prime rate was lowered by 10 basis points to 4-point-2 per cent. The rate cuts are in line with market expectations. Analysts said the cuts should offer some support to economic activity. This follows the State Council’s meeting last week to discuss more economic growth policies
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