Reported about 1 year ago
Ahead of the Central Bank's board meeting, the Ministry of Interior unexpectedly announced that if the Central Bank were to raise interest rates, they would recommend against further interest rate subsidies. This rare move has sparked speculations in the market, with many interpreting it as a sign of a new round of intervention in the property market. The Central Bank is set to hold its board meeting on the 13th, with possibilities of implementing selective credit controls given the current property market indicators. The Ministry's proactive statement may indicate the government's determination to curb the heated property market. However, with global uncertainties and upcoming elections, the likelihood of a Central Bank rate hike is deemed low, potentially leading to credit restrictions to cool down the market and prevent a bubble.
Source: YAHOO