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The central bank raised interest rates yesterday for the fourth time this year to control money supply and rising prices.
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The central bank raised interest rates yesterday for the fourth time this year to control money supply and rising prices.
Effective today, the interest rate on bank deposits is raised by 27 basis points, and the lending rate by 18 basis points, the People's Bank of China (PBOC) said on its website.
After the hikes, the benchmark one-year deposit rate is 3.6 percent while one-year lending rate is 7.02 percent.
The demand deposit interest rate remains unchanged at 0.81 percent.
The central bank said the move is aimed to "control money supply and credit, and stabilize inflation expectations".
The annual growth in the broad measure of money supply, M2, grew by 18.5 percent in July, 1.42 percentage points higher than in June and the fastest this year.
The annual growth in the consumer price index (CPI) surged to 5.6 percent in July, the highest in a decade.
"The interest rate hikes, therefore, are in line with expectations," said Zhao Xijun, finance professor at Renmin University of China.
"The authorities may fear the high inflation, driven mainly by rising food prices, may lead to more general price spikes and spill over to other sectors," he told China Daily.
The series of revisions in the lending rates are aimed at reducing bank lending, said Hu Shaowei, senior economist with the State Information Center.
"By raising the lending rates by a smaller margin, policymakers aim to prevent banks from providing too much credit, which has pushed fixed-asset investment growth," he told China Daily.
In the first seven months, new banks’ loans amounted to 2.77 trillion yuan ($364.5 billion), already exceeding the authorities' target of 2.5 trillion yuan for 2006.
The annual growth rate in urban fixed-asset investment, meanwhile, rose to 26.6 percent in the first seven months, 2.1 percentage points higher than the growth rate last year.
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(China Daily) |
昨日，央行年內(nèi)第四次上調(diào)利率，以控制貨幣供給量和物價(jià)上漲。
據(jù)央行在其網(wǎng)站上公布，自今日起，銀行存款利率上調(diào)0.27個(gè)百分點(diǎn)，貸款利率上調(diào)0.18個(gè)百分點(diǎn)。
一年期存款基準(zhǔn)利率和一年期貸款基準(zhǔn)利率分別上調(diào)至3.6%和7.02%。
活期存款利率保持不變，仍為0.81%。
據(jù)央行介紹，這一舉措主要是為了“調(diào)控貨幣供給和信貸投放及穩(wěn)定通脹預(yù)期”。
七月份我國(guó)廣義貨幣（M2）供應(yīng)量年比增長(zhǎng)18.5%，比六月份高1.42個(gè)百分點(diǎn)，是截止目前年內(nèi)增長(zhǎng)最快的一個(gè)月。
七月份的消費(fèi)者物價(jià)指數(shù)年比上漲5.6%，創(chuàng)十年來(lái)新高。
中國(guó)人民大學(xué)金融學(xué)教授趙錫軍說(shuō)：“所以，加息是意料之中的事。”
他在接受《中國(guó)日?qǐng)?bào)》采訪時(shí)說(shuō)：“政府可能擔(dān)心主要由食品價(jià)格上漲引發(fā)的通脹會(huì)導(dǎo)致總體物價(jià)上漲，以及對(duì)其它領(lǐng)域造成影響。”
國(guó)家信息中心高級(jí)經(jīng)濟(jì)師胡紹偉說(shuō)，年內(nèi)貸款利率的連續(xù)數(shù)次上調(diào)主要是為了減少銀行貸款量。
他在接受《中國(guó)日?qǐng)?bào)》采訪時(shí)說(shuō)：“政府想通過(guò)微提貸款利率，控制銀行過(guò)度放貸。大量銀行貸款推動(dòng)了固定資產(chǎn)投資的增長(zhǎng)。”
今年前七個(gè)月，銀行新增貸款量達(dá)到2.77萬(wàn)億元，已超過(guò)政府2006年制定的2.5萬(wàn)億元的上限。
同時(shí)，城市固定資產(chǎn)投資量前七個(gè)月年比增長(zhǎng)26.6%，比去年高出2.1個(gè)百分點(diǎn)。
（英語(yǔ)點(diǎn)津姍姍編輯）
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