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The People's Bank of China is keeping...>

CHINA PRESS
CHINA PRESS: The People's Bank of China is keeping a tight grip on the real
estate sector through small cuts to interest rates and is determined not to use
the sector for short term stimulus, according to the Economic Information Daily.
The Daily's report pointed to the PBOC's cuts of only 5 bps for the 5-year Loan
Prime Rate, the new key loan basis, while the 1-year LPR was cut by 10 bps.
Citing Dong Ximiao, an analyst with the National Institute of Finance and
Development, the Daily said the lowered 1-year LPR is intended be an offset to
the short-term impact of the epidemic but not a major stimulus for the real
estate sector. 

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