CBN丨15 bps in 2 month: China cuts benchmark lending rate to shore up growth

China's central bank lowers one-year and five-year LPR by 10 and 5 basis points, respectively; Beijing has been trying to keep a lid on surging home prices and debt levels in recent years, but more developers are defaulting and many construction projects have been delayed. With the property downturn seen persisting through the first half of this year, and with sporadic coronavirus outbreaks dampening consumer activity, many analysts expect more easing measures soon. 

 

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