The 1-Year Loan Prime Rate has been cut to 3.65% (from 3.70%)
- most new and outstanding loans in China are based on the one-year LPR
- the previous cut to the 1-year was in January
- the 5 basis point cut is not as much as the 10bp cut that was expected
The 5-Year Loan Prime Rate has been cut to 4.30% (from 4.45%)