News Snapshot:
Chinese lenders lowered borrowing costs for a second straight month after the central bank cut policy loan rates and pledged more easing to stabilize the economy. The one-year loan prime rate was cut by 10 basis points to 3.7 per cent on Thursday, in line with forecasts in a Bloomberg survey of economists. The five-year rate, a reference for long-term loans including mortgages, was lowered by five basis points to 4.6 per cent, a smaller reduction than predicted. The LPRs, which are the de facto benchmark lending rates, are based on Quote: s that 18 banks offer their best customers...
