The central bank: will continue to pay close attention to market dynamics and promote the smooth and orderly implementation of existing mortgage interest rate adjustments
Zou Lan, director of the Monetary Policy Department of the People's Bank of China, said at a press conference of the State Council Information Office today that the reduction in existing mortgage interest rates can save residents' interest burden and significantly enhance their spending power. The benefits of this policy adjustment are mid- to long-term, and can sustainably reduce expenditures for households that have taken loans with higher interest rates in recent years, support the improvement of residents' spending power, and effectively promote consumption growth. In the next step, the People's Bank of China will continue to pay close attention to market dynamics, maintain the order of market competition, and promote the smooth and orderly implementation of existing mortgage interest rate adjustments.
