China raising the reserve ratio of banks to try to contain inflation - The People's Bank of China said on Tuesday raising the deposit reserve ratio of banks to try to contain inflation.
This increase, which comes into force June 20, was released by the central bank a few hours after the announcement by the authorities of a 5.5% increase in the index of consumer prices in May the highest level in nearly three years.
The national statistics office said a surge of 11.7% of food prices was the main factor in this increase.
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