The People's Bank of China on Tuesday raised interest rate for the third time since October, extending its efforts to curb inflation.
The benchmark one-year lending rate will increase to 6.06% from 5.81% and the one-year deposit rate will increase to 3% from 2.75%, effective from Wednesday.
Consumer prices rose 4.6% annually in December after rising 5.1% in November. However, rising food prices underlines that inflation is set to accelerate further.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.