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  HOME PAGE 29/06/2022 18:59 
20.05.2022 09:27 News >> China Slashes Mortgage Lending Rate By Record

China Slashes Mortgage Lending Rate By Record

5 year loan prime rate cut by 15 basis points to 4.45% from 4.6%

China on Friday cut a key interest rate for long-term loans for the second time this year, part of a push to overcome the impact of stringent COVID-19 lockdowns and a downturn in the property sector.
The five-year loan prime rate, a reference for mortgages, was lowered by 15 basis points to 4.45% from 4.6%, the People's Bank of China said in a statement.
This was the largest cut since the rate was revamped in 2019.
The one-year loan prime rate, the benchmark lending rate, was kept unchanged at 3.7%. -



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