China to raise benchmark interest rates, bank reserve requirement

China to raise benchmark interest rates, bank reserve requirement



BEIJING, May 18 China will raise the one-year deposit and loan interest rates by 0.27 and 0.18 percentage points, respectively, to 3.06 percent and 6.57 percent as of May 19, the People's Bank of China announced on Friday.

The central bank will also raise banks' reserve requirement ratio by 0.5 percentage points to 11.5 percent as of June 5.