Economy
IMF's Lipsky says welcomes China's rate hike
(Agencies)
Updated: 2010-10-20 13:24
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The International Monetary Fund (IMF)'s first managing director, John Lipsky, said on Wednesday that he welcomed China's interest rate hike announced the previous day, Reuters reported on Wednesday.
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China's central bank announced its first increase of interest rates in nearly three years.
The People's Bank of China said it was raising benchmark rates by 25 basis points, taking one-year deposit rates to 2.5 percent and one-year lending rates to 5.56 percent.