Investing.com-- The People’s Bank of China unexpectedly cut its benchmark loan prime rates further into record-low territory on Monday as recent signs of a slowing economic recovery drew more calls for stimulus.data for the second quarter ramped up concerns over slowing economic growth. The reading, which also followed a slew of middling economic reports from China, drew increased calls for more stimulus measures from Beijing.
The LPR is determined by the PBOC based on considerations from 18 designated commercial banks, and is used as a benchmark for lending rates in the country.
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