PBoC LPR setting unchanged – by fx_ross PBOC USDCNY Currencies
since last year to boost sales in its moribund property market, as Reiters reported, stating however, ''but the main result so far has simply been a rush by households to pay off existing mortgages early, potentially squeezing banks' profits.''
The article goes on to explain that ''it also highlights, however, how mortgage rate cuts and other measures to aid China's faltering property sector, hit by a slump in demand and a cash crunch at major developers, have yet to deliver a meaningful recovery, even as recent data show the market is stabilising. Analysts expect a recovery will only kick in towards the second half of this year.
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