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China's central bank cuts rates to historic lows
Bangkok Post
|May 21, 2025
China's central bank yesterday cut two key interest rates to historic lows, as Beijing battles to stimulate its economy amid seesaw trade tensions with the United States.
Beijing and Washington have been locked in a bruising trade war but last week agreed to slash sweeping tariffs on each other's goods for 90 days.
The deterioration in trade ties has come as China's economy already faces persistent headwinds from a long-term domestic spending slump, a protracted debt crisis in the property sector and high youth unemployment.
The People's Bank of China said yesterday that the one-year Loan Prime Rate (LPR), the benchmark for the most advantageous rates lenders can offer to businesses and households, would be cut from 3.1% to 3.0%.
The five-year LPR, the benchmark for mortgage loans, was cut from 3.6% to 3.5%, it said.
This story is from the May 21, 2025 edition of Bangkok Post.
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