Jun 16, 2011 04:14 PM

Economists Expect a Slow Hoist of Interest Rates

Economists surveyed by Caixin said they expect the Chinese government will continue to tighten monetary policies in aim to rein in inflation after key economic data released on June 14.

The National Bureau of Statistics (NBS) said that the consumer price index (CPI), a key measure of inflation, grew 5.5 percent year-on-year in May, hitting a new high in 34 months. Following the release of the figures, the People's Bank of China, China's central bank, announced a 0.5 percentage point rate hike for banks' reserve requirement ratios, the sixth such increase since the beginning of the year.

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