Name: Beijing estimates mortgage rates to fall by 0.5 percent due to interest rate cuts / 36K744V
Uploaded: 2024-10-18T06:00:04.403732Z
Channel: AFP

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Beijing estimates mortgage rates to fall by 0.5 percent due to interest rate cuts / 36K744V

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Beijing says it estimates that "existing mortgage rates will fall by an average of about 0.5 percentage points" due to interest rate cuts, one of many measures aimed at boosting the country's property market. Central bank deputy governor Tao Ling told a press conference the cuts would "save 150 billion yuan in interest expenditure overall, benefitting 50 million families." IMAGES AND SOUNDBITES ++ TO COMPLETE VIDI36KA2BF_EN AND VIDI36K82BQ_EN ++

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Tao Ling #NGD81 : Housing Minister Ni Hong holds press conference raw china economy

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