China cuts medium-term rate to soften coronavirus hit to economy

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China’s central bank cut the interest rate on its medium-term lending on Monday as policymakers sought to ease the drag to the businesses from a coronavirus outbreak that has severely disrupted activity.

The move is expected to pave the way for a reduction in the country’s benchmark loan prime rate (LPR), which will be announced on Thursday, to lower borrowing costs and ease financial strains on companies hit by the virus epidemic.

Read more : Nasdaq

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