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China is widely expected to cut the one-year loan prime rate  on Wednesday, according to a survey of traders and analysts.  

All 64 respondents in the snap survey expected a cut in the new benchmark interest rate.  Thirty-seven respondents also expected another cut in the five-year.  About 45% of all respondents predicted a 5-basis-point cut in both one-year and five-year LPRs,  according to Reuters.  

The one-year loan prime rate currently stands at 4.20% per annum.