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- Medicaid enrollment continues to soar under Obamacare, administration says
- Michelle Obama to Latinos: ‘We cannot afford to wait on Congress’ for immigration
- White House urges GOP to act ‘urgently’ on $3.7 billion request for illegal immigrants
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- German foreign minister to meet Kerry to discuss spying claims
- Florida police spokesman tells citizens: ‘Get yourself some firearms’
China’s premier unsure of economy
Warns of further slowdown as nation recovers from worst slump since ‘08
Question of the Day
Surging housing costs have fueled political tensions. The rise in real estate prices was driven in part by a large amount of government stimulus spending and bank lending pumped into the economy after the 2008 crisis.
On Thursday, China’s central bank cut the interest rate on one-year loans by 0.31 percentage points to 6 percent. It said banks will be allowed to offer discounts to borrowers of up to 30 percent below that benchmark, an increase from the 20 percent discount previously allowed.
In an unusual step, the central bank also called on banks to control mortgage lending. That suggested authorities are worried about a possible resurgence in real estate speculation as they try to stimulate industrial activity and job creation.
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