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Home mortgage rate won’t go down after recent interest rate reform

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China's central bank warned that that policy stance for the real estate sector will remain tight and the revamped interest rate system will not bring down home mortgage rate.

"Home mortgage rate will drop after the interest rate reform - replacing the central bank's benchmark lending rate with Loan Prime Rate as banks' lending reference rates," said Liu Guoqiang, deputy governor of the People's Bank of China (PBOC).

Liu said the central bank . . .

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