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China cuts benchmark lending rates by 25 basis points

  • China cut its benchmark lending rates by 25 basis points as part of measures to revive economic growth and halt a housing market crash.
  • The cut is larger than the 20 basis point reduction projected by all 17 economists surveyed by Bloomberg.
  • PBOC Governor Pan Gongsheng stated lending rates will decrease by 20 to 25 basis points on October 21.
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Bias Distribution

  • 39% of the sources are Center, 39% of the sources lean Right
39% Center
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