The People's Bank of China announced cutting its one-year loan prime rate (LPR), a key reference for household and business lending, trimming it from 3.1% to 3.0%. The five-year LPR, typically ...

The banks cut interest rates on time deposits by 5 bps to 0.05%, reduced rates on one-year time deposits by 15 bps to 0.95% and shaved off 25 bps on three-year and five-year time deposits.

The People's Bank of China said the one-year loan prime rate (LPR), a benchmark determined by banks, had been lowered by 10 basis points to 3.0% , while the five-year LPR was reduced by the same ...