China today cut its market-based benchmark lending rates, with the one-year loan prime rate (LPR) being reduced to 3.1 per cent from 3.35 per cent earlier.
The over-five-year LPR was reduced to 3.6 per cent from 3.85 per cent.
The third cut this year is expected to reduce financing costs, support the recovery of credit demand and further fuel consumption and investment growth.
The over-five-year LPR was reduced to 3.6 per cent from 3.85 per cent.
The third cut this year is expected to reduce financing costs, support the recovery of credit demand and further fuel consumption and investment growth.
