China’s one-year loan prime rate (LPR) was set at 4.2% in September 2019, down from 4.25% in the previous month, the People’s Bank of China (PBOC) said in a statement on its website. The decision came after the central bank cut banks’ reserve requirements by 50 basis points in early September to support the economy and after the Federal Reserve slashed US interest rates for the second straight month this year. Meantime, the five-year tenor was kept at 4.85%.