China reportedly to cut borrowing costs on mortgages as soon as today

<p>More stimulus is coming for China as Beijing is reportedly poised to cut interest rates on some of the ¥38.6 trillion of existing mortgages. And that move could come as soon as today, with the reductions set to only affect loans on first homes. Once officially announced, it will be the first time that China has reduced the rates on outstanding home mortgages for the first time since the global financial crisis.</p><p>Considering the pressure that the economy is under, these added stimulus measures will help somewhat but again, where is the fiscal help? That for me, is the key to really try and dig China out of its current plight.</p>

This article was written by Justin Low at www.forexlive.com.