(Reuters) – China is poised to cut interest rates on more than $5 trillion of outstanding mortgages as early as this month, Bloomberg News reported on Thursday, citing people familiar with the matter.
Some banks are making final preparations to get ready for the upcoming adjustments on mortgage rates, the report said, adding that some homeowners may get up to 50 basis points of immediate rate reduction.
(Reporting by Disha Mishra in Bengaluru; Editing by Kevin Liffey)
