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Article: CHINESE CENTRAL BANK RAISES INTEREST RATE FOR HOUSING LOANS.
- Article from:
- AsiaPulse News
- Article date:
- March 17, 2005
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BEIJING, March 17 Asia Pulse - The People's Bank of China, the central bank, has decided to raise the interest rate for personal housing loans provided by commercial banks on own account starting from March 17.
The housing credit policy for commercial banks will also be adjusted, the central bank said on March 16.
In cities and regions where the housing price has risen excessively fast, the minimum first installment payment of personal housing loans may be raised from the current 20 per cent to 30 per cent, the central bank said.
According to a central bank announcement, the ...