Tag: second-largest economy


China Cuts Key Interest Rate To Support Economy

BEIJING — China’s central bank on Monday cut a key interest rate in an attempt to counter the post-COVID growth slowdown in the world’s second-largest economy. The one-year loan prime rate, which serves as a benchmark for corporate loans, was reduced from 3.55% to 3.45%, the People’s Bank of China said in a statement, while the five-year LPR, which is used […]