The People’s Bank of China lowered China’s one-year loan prime rate (LPR), a market-based benchmark lending rate.
The one-year LPR came in at 3.45 percent on Monday, down from the previous reading of 3.55 percent, according to the National Interbank Funding Center.
The over-five-year LPR, on which lenders base their mortgage rates, remained unchanged at 4.2 percent, China’s News Agency (Xinhua) reported.
Source: Qatar News Agency
