PBOC cuts benchmark lending rate

By Agence France-Presse

Feb 21, 2024 12:21 am

BEIJING: China's central bank on Tuesday cut a key benchmark lending rate used to price mortgages, as Beijing seeks to boost its flagging growth.

Officials in China have struggled to kick-start economic growth as they battle a range of headwinds, including a prolonged property-sector crisis, soaring youth unemployment and a global slowdown that has hammered demand for Chinese goods.

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