China’s central bank has instructed commercial banks to reduce interest rates on existing mortgage loans by approximately 50 basis points (0.5%). This move is part of broader efforts to support the country’s struggling property market and stimulate economic growth.
BREAKING: China banks have been told to cut rates by about 50 bps on existing mortgage loans
— unusual_whales (@unusual_whales) September 29, 2024
Sources:
https://finance.yahoo.com/news/china-cut-existing-mortgage-rates-154008910.html