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24.11.2014 13:30:00
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Moody's: PBOC Rate Cut Is Credit Positive for Chinese Property Developers
Hong Kong, November 24, 2014 -- The People's Bank of China (PBOC) reduced its benchmark one-year lending rate by 40 basis points to 5.6% on 21 November and cut the one-year deposit rate by 25 basis points to 2.75%. The interest rate reductions, the first by the PBOC since July 2012, are credit positive for property developers, because they will likely support property sales and reduce developers' borrowing costs.
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