China cuts short and long-term rates

SHANGHAI/SINGAPORE (Reuters) - China cut short and long-term rates by 10 basis points on Monday, with the central bank saying it was aiming to support growth.

The move follows Beijing's release of a policy document on Sunday outlining its ambitions for the economy.

The People's Bank of China cut rates on its seven-day reverse purchase agreements, leading to a similar drop in its loan prime rates (LPR), pulling bond yields down across the curve.

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BEN BENNETT, HEAD OF INVESTMENT STRATEGY FOR ASIA, LGIM, HONG KONG