The People's Bank of China, the country's central bank, decided to raise interest rates effective from October 29 for the first time in nine years, This move is considered to be a further gesture to cool down the country's fast-growing economy. The benchmark one-year lending rate was lifted to 5.58 percent from 5.31 percent while that for deposit rate was increased to 2.25 percent from 1.98 percent.
展开▼
