PBC: Guide banks to adjust existing personal housing loan interest rates

Zou Lan, director of the Monetary Policy Department of the People’s Bank of China (POBC), said at a press conference on August 4 that corporate loan interest rates have dropped in recent years, as the result of the loan market quotation interest rate reform. In the future, POBC will continue to give effective guidance in the loan market quotation interest rate reform and guide banks to adjust the existing personal housing loan interest rates orderly in accordance with the law. At the same time, it is necessary to continue to play the important role of the deposit rate market-based adjustment mechanism to maintain the order of market competition and support banks in rationally controlling debt costs, thereby enhancing the financial support to the real economy.