PBOC offers stimulus relief for mortgages, cuts RRR for banks

Outstanding mortgage rates for individual borrowers will be cut by 0.5%, potentially helping around 50 million households, while the reserve requirement ratio (RRR) for most banks will also be cut by 0.5%.

Andrew Tjaardstra

September 24, 2024

The People’s Bank of China (PBOC) announced stimulus measures for banks and mortgage owners on September 24, as the country scrambles to hit its 2024 annual GDP growth target of 5%.

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