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Central bank deliberates interest rate rise

By Xin Zhiming | 皇冠体育app Daily | Updated: 2008-02-15 07:23

The central bank is under pressure to raise interest rates to combat price increases, but the international economic situation could influence its decision, an adviser to the bank said yesterday.

"Interest rates in 皇冠体育app are relatively low but prices are relatively high," Fan Gang, a member of the People's Bank of 皇冠体育app's monetary policy committee, was quoted as saying by the People's Daily.

"Some short-term deposit rates are still negative in real terms, which means there is pressure to raise interest rates," he said.

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