China's central bank cut its benchmark lending rate Tuesday for the first time in 10 months to shore up the economy in the wake of the far-reaching "zero-COVID" policy and a slowdown due to a slump in exports and high youth unemployment rate.The People's Bank of China said it has lowered the one-year loan prime rate by 0.10 percentage point to 3.55 percent. The central bank also said it has reduced the five-year loan prime rate -- the benchmark mortgage interest rate -- by 0.10 point to 4.2 percent, the first cut for either rate since August last year.The move came as the world's second-lar…READ FULL ARTICLE
