The reduction in the loan prime rate -- one of the preferential rates commercial banks impose on their best customers and which serves as a reference for other lending rates -- is the latest measure to help companies struggling through the epidemic.
The LPR, released on the 20th day of every month, is based on rates of the central bank's open market operations, especially medium-term lending facility rates. The central bank said earlier this month it would offer a 300-billion-yuan boost to help businesses involved in fighting the epidemic.
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