WZ
Winni Zhou
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- The Globe and Mail1 article
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- China cuts lending benchmarks for first time in 10 months to spur growth in the economy—The Globe and MailChina cut its lending benchmarks on Tuesday in the first such easing in 10 months, as authorities seek to shore up a slowing recovery in the world’s second-largest economy, with more stimulus expected. The latest monetary easing comes as China’s post-pandemic recovery shows signs of losing steam after some initial momentum in the first quarter of this year. The one-year loan prime rate (LPR) was lowered by 10 basis points to 3.55%, while the five-year LPR was cut by the same margin to 4.20%...
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