China’s Central Bank considers raising interest rates
The Central Bank of
China may raise interest rates in the second quarter of this year, according to a statement made at the
China Development Forum.
The statement cites the desires to maintain financial stability and adjust the rate for the benefit of
China's economic development as the main reasons behind a possible interest rate hike.
The bank increased both the lending and deposit interest rates 0.27 percentage points in October 2004, the first time the bank had done so in nine years.