China's big banks to cut existing mortgage rates Oct 25 [Yahoo! Finance]
CHINA CONSTR BK UNSP/ADR (CICHY)
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Source: Yahoo! Finance
rates starting on Oct. 25, as the authorities ramp up efforts to stimulate the world's second-biggest economy. The lenders, including China Construction Bank Corp and Bank of China, said in statements they would cut the rates to as low as 30 basis points below the benchmark Loan Prime Rate. The actions are in line with a central bank order late last month aimed at easing homeowners' mortgage burden to boost the property market and weak domestic demand. (Reporting by Beijing Newsroom; Editing by William Mallard) Recommended Stories
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