Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China Sept 28, 2018. [Photo/Agencies]
Feb 20, China Daily/ANN -- China's new benchmark lending rate, the one-year loan prime rate (LPR), dropped by 0.1 percentage point to 4.05 percent on Thursday, marking the latest measure of the central bank to lower financing costs for enterprises and support their production resumption amid the novel coronavirus outbreak.
The decline of the one-year LPR was in line with expectations from the market. The five-year LPR, which is a reference for the nation's mortgage loans, was reduced to 4.75 percent from 4.8 percent, said the People's Bank of China, the central bank.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
