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Coronavirus impact: China cuts loan rate to boost economy

Updated : February 20, 2020 04:30 PM IST

The one-year LPR was lowered to 4.05 per cent from 4.15 percent, the People's Bank of China (PBoC) said.
The five-year LPR -- on which many lenders base their mortgage rates -- was also lowered to 4.75 percent from 4.8 percent.
The rate reduction comes as Beijing battles to control a virus epidemic that has infected more than 74,500 people in the country.
Coronavirus impact: China cuts loan rate to boost economy

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