China's central bank raised interest rates for the second time this year Tuesday, redoubling efforts to cool stubborn price pressures.
Inflation has been running within striking distance of a 28-month high of 5.1 per cent hit in November and is expected to rise further in coming months.
Benchmark one-year deposit rates will be lifted by 25 basis points to 3.25 percent, while one-year lending rates will be raised by 25 basis points to 6.31 per cent, the People's Bank of China said in a statement on its website.
The rises will take effect from 6 April.
City A.M. Reporter