Key Points
It will "guide commercial banks to lower the interest rates of existing mortgage loans to the vicinity of the interest rates of newly issued loans".ANIRepresentative.
China's central bank on Tuesday unveiled fresh measures to boost the struggling economy, cutting the amount of cash banks must hold in reserve and lowering a key interest rate...
"The reserve requirement ratio will be cut by 0.5 percentage points in the near future to provide long-term liquidity to the financial market of about 1 trillion yuan," he said.. Beijing would also "lower the interest rates of existing mortgage loans and unify the down payment ratios for mortgage loans", he added...
