From the AFR this morning comes more news to pressure iron ore:
China’s central bank would strengthen policies to calm the rising property market and adopt a “prudent” monetary policy to contain inflation, the governor of the People’s Bank of China, Zhou Xiaochuan, said.
Asked about how the bank planned to manage China’s resurgent property market, Mr Zhou said it previously had used adjustments to downpayment ratios and higher mortgage rates for second and third homes.
“These measures will continue to be implemented and some of them will be further strengthened,” Mr Zhou said at a press conference on Wednesday. “These are structural policies that we can use to contain property prices.”
Enough said.
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