China Cuts Benchmark Lending Rates for First Time in 2020
February 21, 2020 at 11:06 AM EST
Amid the coronavirus outbreak, the People’s Bank of China cut the one-year loan prime rate from 4.15% to 4.05%, and the five-year rate from 4.80% to 4.75%, making it the first cut since October last year, according to Refinitiv data. The move to cut rates was highly anticipated by analysts,...