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China's central bank cuts 2 more key benchmark interest rates

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BM.GE
20.06.23 14:26
260
The People’s Bank of China cut two more key lending rates on Tuesday for the first time in 10 months.

The one-year and five-year loan prime rates were slashed by 10 basis points each to 3.55% and 4.20%, respectively.

The move followed two monetary easing moves last week as the post-COVID recovery lost momentum. The bank had lowered its one-year medium-term lending rate, and also reduced its seven-day reverse repurchase rate.

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