From China Daily:
China’s central bank raised the benchmark interest rates on Tuesday for the fourth time this year in an effort to prevent the economy from overheating and curb accelerating inflation.
The one-year deposit rate will increase 27 basis points to 3.60 percent, while one-year lending rate will rise by 18 basis points to 7.02 percent, effective on Wednesday, the People’s Bank of China said in a statement on its website….
[Image: The headquarter of the People’s Bank of China in Beijing, via China Daily]
– Read also earlier report here via CDT
