SHANGHAI/SINGAPORE—China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy.
The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10 percent from 3.35 percent, while the five-year LPR was cut by the same margin to 3.6 percent from 3.85 percent previously.
