Economics
China's Central Bank Is Said to Push Banks to Curb Mortgages
- PBOC asked banks not to lower home loan rates, people say
- Move comes amid measures to contain risks in property sector
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The People’s Bank of China has asked commercial lenders not to lower the interest rate of home mortgages from the current level in order to curb the growth of home loans, according to people familiar with the matter.
The PBOC offered verbal guidance to state-owned banks, joint stock banks and other commercial lenders, the people said, asking not to be identified as they’re not authorized to speak publicly. Banks received the guidance early this month, according to two of the people.