China Cuts Main Interest Rate to Boost Economy

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BEIJING, June 20 (TiPost)——The People's Bank of China (PBOC), China's central bank, cut two key lending rates on Tuesday for the first time in 10 months to boost economic growth.The central bank authorized the National Interbank Funding Center to announce that the 1-year loan prime rate (LPR) was reduced to 3.55% and the 5-year LPR to 4.2%, both down 10 basis points from the previous readings of 3.65% and