Friday, Aug 18, 2006

China raises base rate

Reuters: China raises interest rates by 0.27 pct point

China raised interest rates on Friday in the latest of a series of tightening steps aimed at slowing a boom in credit and investment that risks destabilising the world's fourth-largest economy. The People's Bank of China, the central bank, said on its Web site ( that it had ordered an increase of 0.27 percentage point in commercial banks' benchmark one-year deposit and lending rates.

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