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China sees loan prime rates fall for first time in 10 months
Updated: Jun 20, 2023
By Zhou Lanxu
chinadaily.com.cn
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China's loan prime rates, the market-based lending benchmarks, fell for the first time since August 2022 on Tuesday as policy efforts strengthened to bolster economic recovery.
The one-year LPR dropped by 10 basis points to 3.55 percent on Tuesday, while the over-five-year LPR, on which lenders base their mortgage rates, dropped by the same amount to 4.2 percent, according to the People's Bank of China, the country's central bank.
