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IPFS News Link • China

China raises rates to battle stubbornly high inflation

• Reuters

China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fast-expanding economy against stubbornly high inflation that threatens to unsettle global markets.

The timing was a surprise, coming on the final day of China's Lunar New Year holiday, but investors have long expected more monetary tightening as Beijing struggles to rein in price pressures and ward off a property bubble in an economy that grew at a double-digit pace last year.

2 Comments in Response to

Comment by Daniel Penisten
Entered on:

 Though I do not appreciate the self-serving games that international banking is playing with all the world's currencies, I do applaud any effort to control prices and inflation. Well done China.

Comment by Powell Gammill
Entered on:
UN: Drought endangers Chinese winter wheat harvest