China Raises Bank Reserves to a Record 19.5 percent

China on Friday raised required reserves to a record 19.5%, adding to an increasingly aggressive effort by Beijing to stamp out stubbornly high inflation. The move by the People’s Bank of China followed an acceleration in inflation to 4.9% in the year to January, which was accompanied by worrying signs that price pressures were spreading beyond food to property and consumer goods. – Reuters

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