China’s central bank cuts two key rates to historic lows as policymakers battle economic headwinds

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China's central bank cut two key interest rates to record lows in an effort to boost its slowing economy. The one-year Loan Prime Rate (LPR) dropped to 3.0% and the five-year LPR to 3.5%. This move comes after a recent trade truce with the US and amid struggling domestic spending. Retail sales growth in April fell short of expectations, further highlighting the need for economic stimulus.