China kept its benchmark lending rates unchanged in July, the country's central bank announced on Thursday.

The one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 3.55 percent, unchanged from the previous month, according to the People's Bank of China.

The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 4.2 percent.

In June, China lowered the one-year rate by 10 basis points to 3.55 percent. The over-five-year rate was also slashed by 10 basis points to 4.2 percent.

The monthly LPR serves as a pricing reference for banks based on rates of the central bank's open market operations.

(With input from Xinhua; Cover via CFP)

Read more: China's LPR cuts help expand domestic demand, strengthen basic economic fundamentals