China trims new benchmark rate amid inflation dilemma

The People’s Bank of China
The People's Bank of China

China’s central bank lowered its benchmark rate today (November 20), after cutting short-term lending rates for the first time in four years on November 18.

Today, the People’s Bank of China trimmed the one-year loan prime rate (LPR), its new benchmark rate, to 4.15%, down five basis points compared with a month ago. The cut is the second to the key policy rate, after PBoC governor Yi Gang said Beijing would step up credit support to boost the slowing economy.

The two easing moves suggest that

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