Pedestrians walk past the People's Bank of China, also know as China's Central Bank in Beijing. China's central bank raised interest rates by 25 basis points for the second time in three months as authorities ramp up efforts to curb borrowing and tame inflation.
AFP - China's central bank on Saturday raised interest rates by 25 basis points for the second time in three months as authorities ramp up efforts to curb borrowing and tame inflation.
The People's Bank of China said in a brief one-line statement that it will raise the one-year lending and deposit rates by 25 basis points each. The move takes the rates to 5.81 percent and 2.75 percent respectively.
In October, policymakers raised rates for the first time in nearly three years as they resort to stronger measures to try to slow a flood of liquidity which has been fanning inflation and driving up property prices.
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