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CHINA: The PBOC set the one-year Loan Prime Rate (LPR) at 4.25%, and five-year
LPR at 4.85% on Tuesday, a new reference rate for bank loans. Under the new
regime, the LPR pricing will be linked to the one-year medium-term lending
facility, a rate that is viewed as being closer to market rates for credit and
will help lower the cost of borrowing for private companies.