The People’s Bank of China said the move would apply only to new mortgages. Photo: Reuters

China’s central bank sets new floors for mortgage rate in latest bid to curb speculation

  • Rate for first-home buyers set at 4.85 per cent, while minimum for second-home buyers will be 5.45 per cent
  • Analyst says the move will ‘help avoid property market overheating’
Topic |   China economy

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The People’s Bank of China said the move would apply only to new mortgages. Photo: Reuters
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