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New Reference Rate for Bank Loans Edges Down

2019年09月20日 20:20 来源于 财新网
In second month since its debut, one-year national LPR falls 5 basis points to 4.2%
The headquarters of the People's Bank of China in Beijing. Photo: VCG

The national interest rate that Chinese banks now use as a reference for pricing one-year loans edged down 5 basis points to 4.2%, official data showed Friday.

The drop in the one-year national loan prime rate (LPR) met market expectations for a rate reduction to help lower businesses’ borrowing costs amid an ongoing economic slowdown.

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