South China Morning Post

China cuts key interest rate, offers mortgage subsidy to boost economy

China’s central bank has announced a fresh package of measures to boost the real economy, cutting an interest rate for policy banks and introducing the country’s first interest subsidy for commercial mortgages. The People’s Bank of China cut the interest rate on its pledged supplemental lending (PSL) facility by 0.25 percentage points, lowering the one-year PSL rate from 1.75 per cent to 1.5 per cent. The move aims to better incentivise policy banks to support the real economy and align with...

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China cuts key interest rate, offers mortgage subsidy to boost economy
China cuts key interest rate, offers mortgage subsidy to boost economy

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