CHINA HIKES RATES

INTEREST rates in China were hiked for the second time in 2011 yesterday. Benchmark one-year deposit rates rose 0.25 per cent to 3.25 per cent and one-year lending rates went up 0.25 per cent to 6.31 per cent. The central bank has tightened policy since food price inflation soared upwards last year, provoking widespread concerns.