BEIJING, July 19 (Reuters) - China's central bank said on Friday that relaxing controls on bank deposit rates is a risky process that needs mature market conditions, so it will be carried out gradually.
The central bank announced long-awaited interest rate reforms on Friday, scrapping the previous floor on the rates that banks charge clients for loans, but not removing a cap on deposit rates.
(Reporting by Kevin Yao and Jonathan Standing) Keywords: CHINA ECONOMY/RATES DEPOSIT
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