China reduced its benchmark lending rate for the second straight month as the economic growth weakened at the end of 2021. The one-year loan prime rate was reduced to 3.70 percent from 3.80 percent. This was the second consecutive reduction after a 5 basis point cut in December. The five-year LPR, the benchmark for mortgage rates, was lowered to 4.60 percent from 4.65 percent.
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