China cuts benchmark lending rate LPR

(Xinhua) 10:04, June 20, 2023

BEIJING, June 20 (Xinhua) -- China on Tuesday cut the market-based benchmark lending rate.

The one-year loan prime rate (LPR) came in at 3.55 percent Tuesday, down from the previous reading of 3.65 percent, according to the National Interbank Funding Center.

The over-five-year LPR, on which many lenders base their mortgage rates, was lowered by 10 basis points to 4.2 percent.

(Web editor: Zhang Kaiwei, Liang Jun)


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