China’s central bank cuts key interest rate amid concerns for economy
People’s Bank of China’s decision to leave 5-year lending rate unchanged greeted with disappointment by markets. China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery of the world’s second-largest economy. The People’s Bank of China on Monday cut the one-year loan prime rate, a benchmark for corporate loans, from 3.55 percent to 3.45 percent.