Central bank targets inflation
By Yi Xianrong | China Daily | Updated: 2010-12-28 08:06
Unexpected increase in interest rate should help contain the soaring prices and real estate bubble in the new year
The latest interest rate hike announced by the People's Bank of China highlighted the government's grave concern over soaring prices and its determination to contain the real estate bubble.
China's central bank decided on Saturday to increase the one-year benchmark lending and deposit interest rates by 25 basis points from the next day, the second increase this year.
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