An ICYMI in Xinhau on the People's Bank of China:interest rates on more than 22 trillion yuan (about 3.06 trillion U.S. dollars) of existing mortgage loans were lowered, with an average interest rate drop of 0.73 percentage points. applies to over 50 million householdsexpected to reduce borrowers' expenses by 160-170 billion yuan yearly, with an average annual reduction of 3,200 yuan per householdXinhua is the mouthpiece of the Chinese Communist Party. This article was written by Eamonn Sheridan at www.forexlive.com.
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