China banks to cut interest rates in stimulus bid

The big state-owned lenders are working on reducing rates on the majority of the nation's 38.6 trillion yuan ($5.3 trillion) of outstanding mortgages, according to people familiar with the matter. The reductions will only affect loans on first homes, two of the people said.

from Stocks-Markets-Economic Times https://ift.tt/uRKDTh5
via IFTTT