It has been the second reduction this year as China seeks to revive the country's ailing housing sector to prop up the economy.
The PBOC decided to keep the one-year LPR unchanged at 3.7%, according to the statement. (ILKHA)
China's Central Bank cut interest rate to boost economy
The five-year loan prime rate was lowered to 4.45% from 4.6%, the People's Bank of China said in a statement on Friday.
20.05.2022 10:36:09 / English News