China: The Latest Interest Rate Hike

The fifth increase this year sends a strong signal to markets that Beijing is willing to take more aggressive action to slow down inflation

The People's Bank of China raised interest rates again, four days after China announced that August's inflation index rose to a 11-year high. Starting Sept. 15, the benchmark one-year lending rate will rise to 7.29%, from 7.02%. The one-year deposit rate will rise to 3.87%, from 3.60%.

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