China Tightens Bank Lending Again

BEIJING ( TheStreet) -- China's central bank raised lenders' required reserves by 50 basis points on Friday, Reuters reports.

It's the People's Bank of China's seventh increase since early 2009 in an effort to fight inflation, Reuters notes. Inflation in China rose to a 28-month high of 5.1% in November.

The PBOC said the increase would be effective Jan. 20.

-- Written by Joseph Woelfel

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