China lifts rates in new bid to halt inflation
The central bank increased its benchmark lending rate by 18 basis points to 7.47%, a nine-year high. Its one-year deposit rate rose 27 basis points to 4.14%.
The latest hike comes on the back of evidence that inflation is continuing its upward spiral, as it soared to 6.9% in November, from 6.5% in October. Pork prices have risen a staggering 56% year-on-year, and
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