This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6908100.stm

The article has changed 5 times. There is an RSS feed of changes available.

Version 0 Version 1
China rates rise to cool economy China rates rise to cool economy
(20 minutes later)
China has raised interest rates to keep inflation in check and stop the fourth largest global economy overheating. China has raised interest rates to keep inflation in check and stop the globe's fourth-largest economy overheating.
The People's Bank of China ordered an increase of 0.27% of a point in commercial banks' benchmark one-year deposit and lending rates.The People's Bank of China ordered an increase of 0.27% of a point in commercial banks' benchmark one-year deposit and lending rates.
The increases will take effect on 21 July, the bank said.The increases will take effect on 21 July, the bank said.
The one-year benchmark deposit rate will move to 3.33% from 3.06%, while the one-year lending rate will rise to 6.84% from 6.57%.The one-year benchmark deposit rate will move to 3.33% from 3.06%, while the one-year lending rate will rise to 6.84% from 6.57%.
The move comes a day after data showing that China's economy outstripped analysts expectations during the second quarter, growing by 11.9% from a year before.The move comes a day after data showing that China's economy outstripped analysts expectations during the second quarter, growing by 11.9% from a year before.
On Thursday, the government said it would "improve macro controls" to rein in the economy.On Thursday, the government said it would "improve macro controls" to rein in the economy.
The rapid growth has pushed inflation to a 33-month high.The rapid growth has pushed inflation to a 33-month high.
A boom in production, fuelled by strong exports and investment, is contributing to the inflationary risks the country now faces.A boom in production, fuelled by strong exports and investment, is contributing to the inflationary risks the country now faces.