News
Home Prices in China Benefit From Interest Rate Cut
January 19, 2015
In news from abroad, Chinese home prices got a boost last month from the central bank's move to slash interest rates and relax restrictions on the real estate industry. Prices in Shenzhen climbed 1.2% in December, making it the first major city to post an increase in four months. Still, prices declines in 65 of the 70 markets tracked by the National Bureau of Statistics. Nationwide, prices dropped 10% in the first 11 months of 2014, contributing to the bank's decision in November to enact the first interest rate cut since 2012.
