China's central bank announced on Monday that it would raise the reserve requirement ratio for commercial banks by 0.5 percentage point to curb the inflation.
This is the fourth such move so far this year, and it will lift China's reserve requirement ratio to a new high of 16.5 percent as of May 20.
The National Bureau of Statistics (NBS) said earlier on Monday the country's inflation rate hit 8.5 percent in April, only a little lower than the nearly 12-year-high of 8.7 percent in February.
Source:Xinhua
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