China has raised benchmark interest rates for the third time since October as Beijing intensifies its battle against stubbornly high inflation.
The benchmark one-year lending rate will rise 25 basis points to 6.06 per cent, the People’s Bank of China said on Tuesday.
The timing of the increase, which came on the final day of the week-long Chinese New Year holiday, appeared to be aimed at avoiding unsettling global and domestic markets. The previous increase was announced on Christmas day.
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