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China’s central bank unexpectedly cuts its benchmark lending rate by 25 basis points to 3.95%

February 19, 2024 9:47 pm ETKraneShares CIS China Internet ETF (KWEB), FXI, CQQQPGJ, EWH, CAFGXC, TDF, CHIQ, YINN, YANG, CHIX, MCHI, CXSE, ASHR, KBA, CWEB, KUREFrom: Gaurav Batavia, SA News Editor

China maintained its one-year prime lending rate on Tuesday but surprised markets by lowering the five-year rate by 25 basis points to 3.95%, according to a Tuesday statement from the People’s Bank of China.

Reuters had expected a cut of between 5 and 15

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