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 loan prime rate (LPR) was lowered to 3.1% from 3.35% and the five-year LPR was reduced to 3.6% from 3.85%. Both the benchmark corporate lending rate and mortgage benchmark rate were last cut in July by 10 basis points.
