Cut has little impact

Wednesday, 15 August, 2012, 6:08pm

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China's first interest rate cut since 2008 is unlikely to have a significant impact on the residential property market, according to Savills. The real estate consulting firm says the move will help improve confidence that the country is taking steps to spur flagging growth. It will also help reduce the mortgage burden on home owners. Savills says slowing economic growth may encourage a loosening of property restrictions.