Photo taken on January 21, 2024 shows a real estate project under construction in Huai 'an city, Jiangsu province, China.
CFOTO | Future Publishing | Getty ImagesPolicymakers are doing little to soothe concerns surrounding China's ailing economy, Brian McCarthy, chief strategist at Macrolens told CNBC's "Street Signs Asia" on Wednesday.
The latest monetary policy announcement from the People's Bank of China (PBOC) saw the central bank cut the benchmark 5-year loan prime rate by 25 basis points earlier this week.
Many observers saw the move as an effort to boost the country's struggling property market, as the majority of mortgages are pegged to this rate.
The 5-year loan prime rate cut was a more "aggressive" move within these decisions, he added.
Persons:
Huai, Brian McCarthy, Macrolens, CNBC's, Wei Yao, Générale, stabler, McCarthy
Organizations:
Getty, People's Bank of China, CSI
Locations:
Jiangsu province, China, Asia