( ) -q-29- UNDATED (Correspondent Jeremy House) “on excessive borrowing.” China’s central bank has cut its five-year loan prime rate while leaving its one-year rate unchanged. [CutID: <Cuts> CHINA-ECONOMY-house-q-TUEam.mp3 Time: 29s Title: CHINA-ECONOMY-house-q-TUEam Out-cue: on excessive borrowing] TAG: Correspondent Jeremy House reporting. —————————– VERBATIM: It was the first time the five-year rate, which is a […]
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China cuts key interest rate in latest move to boost ailing property sector
( ) -q-29- UNDATED (Correspondent Jeremy House) “on excessive borrowing.”
China’s central bank has cut its five-year loan prime rate while leaving its one-year rate unchanged.
[CutID: <Cuts> CHINA-ECONOMY-house-q-TUEam.mp3
Time: 29s
Title: CHINA-ECONOMY-house-q-TUEam
Out-cue: on excessive borrowing]
TAG: Correspondent Jeremy House reporting.
—————————–
VERBATIM: It was the first time the five-year rate, which is a benchmark for mortgage rates, was cut since May. The five year rate was lowered by 0.25 basis points to 3.95% while the one-year rate remains at 3.45%. As markets reopened after a weeklong Lunar New Year holiday break, China’s state-owned banks announced a flurry of plans for billions of dollars worth of loans to support developers struggling after a crackdown on excessive borrowing.