RRR rises stifle private sector, economist says
By Gao Changxin | China Daily | Updated: 2011-05-24 07:53
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China has raised interest rates twice this year - its benchmark deposit rate now stands at 3.25 percent and its lending rate at 6.31 percent. An Xin / For China Daily |
SHANGHAI - China should rely more on adjusting the interest rate than reserve requirement ratios (RRR) to fight inflation, because RRR rises disproportionately hurt private-sector businesses, according to a senior economist.
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