China reduced its benchmark lending rate for the second straight month as the economic growth weakened at the end of 2021.
The one-year loan prime rate was reduced to 3.70 percent from 3.80 percent. This was the second consecutive reduction after a 5 basis point cut in December.
The five-year LPR, the benchmark for mortgage rates, was lowered to 4.60 percent from 4.65 percent, which was the first cut since April 2020.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.