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China's Central Bank Lowers 1-Year Rate But Unexpectedly Leaves 5-Year Rate Unchanged

Moomoo 24/7 ·  Aug 20, 2023 21:16

The People’s Bank of China cut its one-year loan prime rate by 10 basis points from 3.55% to 3.45%, but left its five-year loan prime rate unchanged at 4.2%. The last time the central bank cut these rates was in June and August 2022.

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