SHANGHAI -- China's central bank on Monday trimmed a key lending rate again, aiming to shore up the economy amid weak consumer spending and fresh signs of stress in the property sector.
In a widely expected move, the People's Bank of China cut the one-year loan prime rate by 10 basis points to 3.45%, from 3.55%, in an effort to ease borrowing costs for businesses. It kept the five-year rate, a mortgage benchmark, at 4.2%.
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