China Raises Rates to Fight High Inflation
February 08, 2011 at 11:07 AM EST
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. Benchmark one-year deposit rates will be lifted by 25 basis points to 3%, while one-year lending rates will also be raised by 25 [...]