BEIJING, Aug. 22 (Xinhua) -- China on Monday cut the market-based benchmark lending rate in a bid to shore up growth.
The one-year loan prime rate (LPR) came in at 3.65 percent Monday, down from 3.7 percent, according to the National Interbank Funding Center.
The over-five-year LPR, on which many lenders base their mortgage rates, was lowered by 15 basis points to 4.3 percent. ■
