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.
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