Analysts: More Monetary Tightening Ahead

(Beijing) -- The interest rate hike by the central bank on July 6 was welcomed by most analysts amidst China's ever-rising consumer inflation, with many expecting similar measures in the short-term.

Effective on July 7, one-year benchmark deposit and lending rates will stand at 3.50 percent and 6.56 percent, respectively, each up 25 basis points.

The latest interest rate hike has been expected, despite the raising of the reserve requirement ratios for six times to date this year, Industrial Bank senior economist Lu Zhengwei told Caixin.