SHANGHAI -- China's central bank on Tuesday cut its five-year mortgage benchmark by the biggest margin yet, as it aims to boost an economy weighed down by a distressed property sector and weak business confidence.
Economy
China cuts 5-year mortgage rate by record margin to aid property sector
Benchmark slashed 25 basis points; one-year loan prime rate left unchanged
The People's Bank of China is attempting to spur the economy amid property pressures and weak business confidence. © Reuters
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