Bloomberg (gated) with the info, citing unnamed sources:
- China poised to cut interest rates on more than $5 trillion of outstanding mortgages as early as this month
- Some banks are making final preparations to get ready for the upcoming adjustments on mortgage rates
- Some homeowners may enjoy up to 50 basis points of immediate rate reduction
- Timeline has yet to be finalized
Lower interest payments will, at the margin, free up some consumer cash. That’ll be the intention anyway.
This article was written by Eamonn Sheridan at www.forexlive.com. Source