China Hikes Rates to Battle Inflation

In an attempt to battle rising inflation, China on Tuesday raised interest rates for the fourth time in five months.

 

The People's Bank of China said the benchmark one-year lending and deposit interest rates would be increased by 25 basis points from Wednesday. The move would bring the deposit rate to 3.25 percent and the lending rate to 6.31 percent. The increase would also apply to mortgage loans.

 

 

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