China lowers one year lending rate to 4.20% from 4.25%
This the LPR
- Sets 1 year loan prime rate at 4.20% from 4.25% a month earlier
- 5-year LPR set unchanged rate at 4.85%
As I said in the preview (link below), a stimulus step in China to make borrowing a little cheaper. A reduction was expected for both, market gets it for the 1 year but not the 5 year.