The People's Bank of China, the central bank, raised key savings and lending interest rates from Sunday, March 18, the third time in 11 months in a bid to curb inflation and asset bubbles in the world's fastest-growing major economy.
Central bank Governor Zhou Xiao chuan is concerned that cash from a record trade surplus is stoking excess investment, raising the risk of accelerating inflation and boom-and-bust cycles in asset prices.
Zhou has resisted calls from Europe and the US to let the Yuan strengthen at a faster pace, making China's exports more expensive.
The central bank said that this interest rates adjustment will be conducive to the rational growth of credit and investment; conducive to maintaining a stable price level and conducive to promoting sound and fast growth of the national economy.
【参考译文】
为了努力控制世界发展最快的大国经济的通货膨胀和经济泡沫，中国人民银行即中央银行，从星期日(3月18日)开始在11个月中第三次提高储蓄和借款利率。
中央银行行长周晓川担心，创记录的贸易顺差带来的资金加剧了已经过度的投资，从而使中国面临着加速通货膨胀和经济繁荣与萧条之交替循环的更大危机。
周晓川一直抵抗着欧洲和美国政府的要求，以更快的步伐增大人民币的价值，以使中国的出口商品更加昂贵。
中央银行表示这次的利率调整将有益于信贷和投资的发展，有益于保持平稳的物价水平,有益于国民经济健全和快速地增长。
