China makes historic cut to benchmark mortgage rates - analyst says its a bit late ...Middle East

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China makes historic cut to benchmark mortgage rates - analyst says its a bit late
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China slashed its benchmark rate for mortgagesPBOC Rate CUT ___ (LPR): 1-year 3.45% (prior 3.45%) 5-year 3.95% (prior 4.20%)China's largest ever cut to its benchmark reference rate for mortgagesOnshore yuan trades at its weakest against dollar since November last yearAnalysis via National Australia Bank:The size of the cut is impressive. It was larger than expected, and encouragingly it does show authorities are now really putting their words into actions. The PBoC in particular has stated its commitment to reinvigorating the economy, given those concerns around deflationary forces and a consumer that remains very subdued. The question of course is whether a lower rate really going to make a

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