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2012, May 22
2012, May 22 The People's Bank of China has increased interest rates on loans that it makes to commercial banks, reports The Standard.
The move is expected to raise lenders' borrowing costs, but analysts believe the raise will not add much pressure on the banking sector as lenders rarely borrow from the central bank.
The central bank raised the rediscount rate to 2.25% from 1.8%. It also lifted the one-year relending rate to 3.85% from 3.33%.
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