China keeps benchmark lending rates steady as Beijing assesses stimulus measures [Video]
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China keeps benchmark lending rates steady as Beijing assesses stimulus measures [Video]

China’s central bank on Wednesday kept major benchmark lending rates unchanged, as Beijing assesses the effects of its recent stimulus measures. 

The People’s Bank of China said it would keep the 1-year loan prime rate at 3.1%, and the 5-year LPR at 3.6%.

Market watchers polled by Reuters had expected PBOC to keep the lending rates unchanged this month.

There was “no immediate need to adjust the LPR this month,” said Bruce Pang, chief economist and head of research for Greater China at JLL, adding that the Chinese leaders were likely still assessing the impact of recent measures aimed at boosting the economy.

The record-low net interest margins at Chinese commercial banks have limited their ability to support lower lending rates, Pang said, “while another policy rate cut before the end of the year seems unlikely, there remains potential for interest rate cuts in 2025.”

The 1-year LPR affects corporate and most household loans in China, while the 5-year LPR acts as …

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Suspects in fatal Rutland shooting plead not guilty during court appearance [Video]
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Suspects in fatal Rutland shooting plead not guilty during court appearance [Video]

Two men allegedly involved in a deadly shooting in downtown Rutland last week faced a judge on Monday. And court documents show that the victim may have not been the intended target. Dylin Wainscott, 28, is facing a first-degree murder charge, while 31-year-old Precious Okorie is facing charges of conspiracy and accessory. Both pleaded not guilty to the charges.Police said the shooting happened near Elm Street and Grant Avenue on Friday night, and investigators found 32-year-old Christopher Hale shot to death.An official with the Rutland City Police Department told NBC5 they believe the shooting was a targeted incident.The charges that we brought indicate that there was some premeditation involved," said Detective Corp. Adam Lucia of the Rutland City Police Department.According to court documents, someone close to the invesigation told police that Wainscott and Okorie were looking for a suspected drug dealer that Wainscott has had issues with in the past. Wainscott allegedly told the witness that he shot someone that looked like the suspected drug dealer and that he "had seven shots and made all seven shots count." Court documents said police watched a surveillance video of the crime scene and saw Hale knock on the door of 19 Elm Street. That's when a man allegedly came from behind a nearby car and shot him. Hale screamed and collapsed.Because of the seriousness of the charges, the court ordered that Okorie be held on $100,000 bail. Meanwhile, Wainscott is being held without bail until his next court appearance.

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Small Businesses, Big Future: AI-Powered Hookle App Fuels Sustainable Growth for 30 Million U.S. Micro-Businesses | PR Newswire [Video]
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Small Businesses, Big Future: AI-Powered Hookle App Fuels Sustainable Growth for 30 Million U.S. Micro-Businesses | PR Newswire [Video]

Hookle, a Finland-based tech company, is advancing sustainable growth for over 30 million U.S. micro-businesses with its AI-powered social media marketing app. By simplifying digital marketing, Hookle empowers micro-businesses globally