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LPR Cut In May Remains Likely: Journal

CHINA PRESS
MNI (Singapore)

The benchmark Loan Prime Rate is still likely to be cut by 10 to 15 basis points in May and June to help stabilize the economy, the Shanghai Securities Journal reported citing analysts after the April LPR was left unchanged on Wednesday. The recent cut to reserve requirement ratio as well as the lowering of deposit rate ceiling for smaller banks help to reduce costs of banks, which should prompt them to lower corporate loan interest rates, the newspaper said citing Wang Qing, chief analyst at Golden Credit Rating. Corporate loan interest rates fell by 0.21 percentage points year-on-year to a record low of 4.4% in Q1, the newspaper added.

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