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China may raise interest rate
(CRIENGLISH.com)
Updated: 2005-03-22 14:54

China's central bank governor Zhou Xiaochuan says the People's Bank of China may elevate the interest rate again in the second quarter of this year.

Zhou Xiaochuan made the remark at the China Development Forum on Monday in Beijing.

He said the central bank's responsibility is to maintain financial stability and adjusting the interest rate is necessary for China's economic development.

Last October, China's prime rate for RMB savings deposits and loans moved up 0.27 percent, the first time prime interest rates for deposits and loans had been lifted since July, 1995.

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