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PBOC May Cut Longer-term Lending Rate: Herald

CHINA PRESS
MNI (Singapore)

The People’s Bank of China is likely to lower the five-year Loan Prime Rate in Q2 to guide mortgage rates lower and spur housing demand, the 21st Century Business Herald reported citing Wang Qing, analyst with Golden Credit Rating. More smaller cities with weak housing demand will further relax purchase restrictions, while migrant workers without local household registrations are expected to receive credit support, the newspaper said citing Xu Xiaole, analyst at Beike Research Institute. In March, 82 out of 103 key cities cut mortgage rates, registering the largest monthly drop since 2019, the newspaper cited Xu as saying.

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