PBoC hikes rates again


China increased its interest rates for the second time in a matter of weeks in a bid to contain growing food price pressures in the East Asian economy.

The People's Bank of China (PBoC) on Tuesday said it would increase its benchmark one-year deposit rate by 25 basis points to 3%, and its one-year lending rate by 25 basis points to 6.06%. The central bank said the changes will come into effect on February 9. On December 25, the PBoC announced an identical move raising both its deposit rate and l

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