📊 China cuts key lending benchmark interest rates by 25 basis points.. 🇹🇳

â—Ÿ The People's Bank of China said on Monday, October 21, that it would cut the one-year benchmark lending rate to 3.1%, while the five-year benchmark lending rate was cut to 3.6%.

â—Ÿ The one-year benchmark rate affects corporate loans, while the five-year benchmark rate serves as a benchmark for mortgage rates.

â—Ÿ The move was not unexpected, as China's central bank governor, Pan Gongsheng, indicated on Friday during a forum held in Beijing that the benchmark lending rate would be cut by 20 to 25 basis points.

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