AsianFin--China on Monday cut the market-based benchmark lending rate.
The one-year loan prime rate (LPR) came in at 3.35% Monday, down from the previous reading of 3.45%, according to the National Interbank Funding Center.
The over-five-year LPR, on which many lenders base their mortgage rates, was lowered by 10 basis points to 3.85%.
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