China cuts 1 and 5 year rates by 25bp each, as expected

People's Bank of China sets Loan Prime Rates (LPR), a rate cut as expected

1 year to 3.10%

• from 3.35%

5 year to 3.6%

• from 3.85%

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Preview of this was here:

• Heads up for a rate cut from China expected on Monday, October 21, 2024