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Article: China raises interest rates by another 27 basis points.
- Article from:
- China Business News
- Article date:
- December 20, 2007
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China raises interest rates by another 27 basis points
Shanghai. December 20. INTERFAX-CHINA - The People's Bank of China, the country's central bank, today announced that it will raise interest rates by 27 basis points on Dec. 21, marking the sixth rise in interest rates since the start of this year.
The benchmark one-year deposit rate will be lifted by 27 basis points from a current 3.87 percent to 4.14 percent, while the one-year lending rate will be raised by 18 basis points from 7.29 percent to 7.47 percent.
Personal housing accumulation fund loan interest rates will stay unchanged, while current deposit interest rates will be reduced by 9 ...