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PBOC interest rate cut seen halting home sales slide as sentiment turns

Cut is equivalent to 2.5% reduction on a 1m yuan apartment


CHINA'S first interest rate cut since 2012 is set to halt a slide in property sales, reducing developers' stock of unsold homes that has weighed on prices. The central bank's surprise reduction in its benchmark rate on Nov 21 adds to discounts of as much as 12 per cent on