China lowers key interest rate as home sales slump
The People’s Bank of China cut its five-year prime rate (LPR) by 15 basis points to 4.45%, the second cut this year and the largest on record. Most analysts expected a decline of five basis points. The Chinese LPR is the rate at which commercial banks lend to their best customers. It is used as …
China lowers key interest rate as home sales slump Read More »