HONG KONG — China cut key interest rates on Monday, in line with previously announced monetary policy, as growth in the world's No. 2 economy continued to lose steam.
The one-year lending rate (LPR) was reduced from 3.35% to 3.1%, and the five-year lending rate was reduced from 3.85% to 3.6%. Both the benchmark corporate lending rate and the benchmark mortgage rate were last cut by 10 basis points in July.