China Raises Lending Rate to Slow Booming Economy - New York Times

China Raises Lending Rate to Slow Booming Economy - New York Times: "The People's Bank of China, the central bank, announced this evening that effective Friday morning, it was raising the benchmark lending rates that financial institutions may charge customers by 27 one-hundredths of a percentage point for loans of all maturities. It was the same size of increase as the last time China raised rates on Oct. 28, 2004, which in turn had been China's first interest rate increase in nine years."