TOKYO -- China trimmed a key bank lending rate on Friday, in the latest move by an Asian government to combat flagging growth and the economic drag of the U.S.-China trade war.
Beijing trimmed its new Loan Prime rate, the reference point against which banks now price loans, to 4.2% for one-year loans, versus 4.25% for August, and left the five-year lending rate at 4.85%. Chinese stocks edged ahead only slightly after the move.
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