China Raises Interest Rates for 6th Time

Thu Dec 20, 2007 5:31 AM EST

BEIJING — China's central bank raised interest rates Thursday for a sixth time this year, adding to efforts to cool a surge in inflation.

The interest rate on a one-year loan will rise by 0.18 percentage point to 7.47 percent, effective Friday, the central bank said on its Web site. It said rates on deposits will rise by 0.27 percentage point to 4.14 percent.

Last week, Beijing said consumer prices had jumped 6.9 percent in November over the same month a year earlier, the biggest jump since 1996.

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Regions: China , Beijing

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