SHANGHAISINGAPORE, Oct 21 Reuters China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy.

The oneyear loan prime rate LPR was lowered by 25 basis points to 3.10 from 3.35, while the fiveyear LPR was cut by the same margin to 3.6 from 3.85 previously.

The lending rates were last cut in July.

People39;s Bank of China PBOC Governor Pan Gongsheng told a financial forum last week lending rates will decrease by 20 to 25 basis points on Oct. 21.

The PBOC announced cuts to banks39; reserve requirement ratio by 50 basis points and the benchmark sevenday reverse repo rate by 20 basis points on Sept. 24, kicking off the most aggressive stimulus since the pandemic that include measures to support the ailing property sector and boost consumption.

It also cut the mediumterm lending facility rate by 30 basis points last month.

Most new and outstanding loans in China are based on the oneyear LPR, while the fiveyear rate influences the pricing of mortgages.

Since the Sept. 24 measures, the CSI300 Index has broken records for daily moves and is up more than 14 overall. The yuan is down 1 against the dollar in that period.

Stocks have wobbled in recent sessions, though, as initial enthusiasm gave way to concerns about whether policy support would be big enough to revive growth.

Data on Friday showed China39;s economic growth was slightly…