Economy

China cuts key loan rate for first time since April 2020

Asian stocks drop as PBOC underscores worsening economic outlook

20211220 China central bank

The PBOC lowered the one-year LPR by 5 basis points to 3.8%. © Reuters

CK TAN, Nikkei staff writer
December 20, 2021 10:55 JST
Updated on December 20, 2021 16:24 JST

SHANGHAI -- China's central bank on Monday cut its benchmark lending rate for the first time in 20 months, responding to a slowing economy.

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