by Boo_Randy
More extend & pretend by the PBOC.
China cut its benchmark loan prime rate on Monday, a move that will provide more support for the slowing economy after the central bank lowered two other key policy rates last week.
China’s one-year loan prime rate, which is offered to banks’ best clients, was lowered to 3.65% from 3.7%, while the five-year LPR was cut to 4.3% from 4.45%, the People’s Bank of China said in a monthly release.
Beijing last lowered its one-year LPR in January, and last cut its five-year LPR rate, which is used to price longer-term loans such as mortgages, in May.
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