Markets yawn as China cuts mortgage rates

Tuesday, 31 March 2015

The People’s Bank of China (PBOC) has cut mortgage rates again overnight from Dad’s Army:

…the minimum deposit for individuals buying additional housing would be set at 40 per cent, according to a statement on its website.

The level was previously 60 to 70 per cent, China’s official Xinhua news agency said.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.