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Chin has set the new (reformed) 1-year loan prime rate (LPR) at 4.25% – slightly lower than 4.31% seen under previous calculation.  

Most banks were expecting a drop of  10 to 25 basis points, according to zerohedge.

The People’s Bank of China  on Saturday announced a market based interest-rate mechanism to reduce financing costs for businesses struggling due to an economic slowdown.

  • China introduces market driven lending rate to boost cheap funding for businesses