News Snapshot:
Tokyo | China’s central bank has cut a key lending rate for the second time in a week as the country’s policymakers seek to revive credit demand and head off a housing crisis, as property owners refuse to pay loans on unfinished apartments. The People’s Bank of China on Monday lowered the one-year loan prime rate by 0.05 of a percentage point to 3.65 per cent from 3.7 per cent, while the five-year rate was cut by 0.15 percentage points to 4.30 per cent from 4.45 per cent. China’s central bank has cut rates but economists say it will not...
