Market View: China banks cut key rate by record to boost ailing economy

Your Way Home with Hongbin Jeong · May 23, 2022 · 15m

On Market View, Prime Time's Bharati Jagdish spoke with Geoff Howie, SGX Market Strategist to make sense of the week’s market sell-off and Chinese banks cutting a key interest rate for long-term loans by a record amount, a move that would reduce mortgage costs and may help counter weak loan demand caused by a property slump and Covid-19 lockdowns. The five-year loan prime rate, a reference for home mortgages, was lowered to 4.45% from 4.6%. See omnystudio.com/listener for privacy information.