China needs rate hike to curb inflation: Report
BEIJING – CHINA should raise interest rates to battle spiralling inflation, which is likely to hit 4.2-4.3 per cent this year, exceeding the official target, a central bank adviser was quoted saying on Monday. Beijing should target a gradual increase in interest rates to combat rising consumer costs, Dow Jones Newswires reported, citing Li Daokui, an adviser to the central bank’s monetary policy …

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