PBOC Cut 1-Year Lending Rate for the First Time since 2016

<p>For the first time in over 3 years, People’s Bank of China (PBOC) lowers the rate of the 1-year medium lending facility (MLF) by -5 bps to 3.25%. This surprising move underlines the rapid deterioration of domestic growth and paves the way for a cut in the loan prime rate (LRP), the current main policy [&#8230;]</p>
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