BBCNEWS Asia Business Report June 4, 2024 01:32:00
To a one—year lending rate on monday has raised concerns that the world's second biggest economy is weaker than expected. the one—year loan prime rate has now been reduced twice this year... and stands at 3.45%, ....down from 3.65% in may. the aim is to nudge businesses and individuals to borrow money. the central bank has traditionally used it as a tool to slow down or boost economic activity. it is known as the triple r and since december, the people's bank of china has produced that twice. combined with additional cuts to the loan prime rates they paint a picture of an economy where ret...