China’s commercial lenders cut their benchmark lending rates in a highly anticipated move as policymakers intensify efforts to boost the ailing economy.

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 move was not unexpected. China's central bank governor indicated last week that the loan market benchmark rate would be lowered by 20 to 25 basis points.

China's banks cut their main lending rates, in a well-telegraphed move, as policymakers intensify their efforts to boost the slowing economy. Find out more:

The headquarters of the People's Bank of China in Beijing Photo: IC. China cut its benchmark lending rates by 25 basis points on Monday, as authorities intensified monetary suppor

China's central bank on Monday said it had cut two key interest rates to historic lows, in the latest move by Beijing to boost sluggish spending and kickstart the world's