Analysis-China needs more than cheaper mortgages to revive spending
© Reuters. A person works at a residential building construction site in Beijing, China September 6, 2023. REUTERS/Tingshu Wang
"The rate cuts have little impact on my spending power," said Yu, who works for an asset management firm, pointing to one of the government's stated aims for those measures. Analysts at Nomura estimate the mortgage rate cuts could save borrowers 200-300 billion yuan a year. But they also warn that a 15 basis point cut in interest rates on Chinese households' 131.4 trillion yuan of deposits reduces interest income by 197 billion per year."It's more of a redistribution of income," said Ting Lu, chief China economist at Nomura, adding it had"limited" impact on consumption.
Li Xiao, a data analyst in Shanghai, says he will keep the money in the bank despite being unhappy with the lower rates.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
LSEG investors Thomson Reuters, Blackstone to sell $2.9 billion shares in bourse operator By ReutersLSEG investors Thomson Reuters, Blackstone to sell $2.9 billion shares in bourse operator
続きを読む »
Analysis-Default dodged, but Country Garden's upcoming debt payments stir worries By ReutersAnalysis-Default dodged, but Country Garden's upcoming debt payments stir worries
続きを読む »
China's 'father of EVs' urges cooperation on EV scaleup By ReutersChina's 'father of EVs' urges cooperation on EV scaleup
続きを読む »
BMW CEO calls on China to expand hydrogen network By ReutersBMW CEO calls on China to expand hydrogen network
続きを読む »
China July-Aug economic losses from disasters double from first six months By ReutersChina July-Aug economic losses from disasters double from first six months
続きを読む »
Marketmind: Brittle markets brace for China trade blues By ReutersMarketmind: Brittle markets brace for China trade blues
続きを読む »