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China raised its
one-year lending rate a quarter point to 6.06% last night as part of its
ongoing campaign to fight inflation. It also raised the interest rate on
savings deposits to 3% in an attempt to keep cash on the
sidelines.
Consumer prices may have risen as much as 5.3% in
January, according to Bloomberg.
China has now raised
interest rates by 0.75 basis points. But it