China banks have been told to cut rates by about 50 bps on existing mortgage loans

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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.

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Sources:

https://finance.yahoo.com/news/china-cut-existing-mortgage-rates-154008910.html

https://www.globaltimes.cn/page/202409/1320268.shtml


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