China’s ‘de facto base rate’ LPR cut by 0.05%p

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Amid growing concerns over a sharp economic slowdown in China, the loan preferential rate, which is the base rate, has been slightly revised down.

China’s central bank, the People’s Bank of China, announced that the preferential rate for one-year loans stood at 3.8% in December, 0.05 percentage points lower than the previous month’s 3.85%.

The one-year loan preferential rate has been maintained at 3.85% since April of last year.

(Photo = Yonhap News)

Reference-news.sbs.co.kr

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