2010年以来，央行已经五次加息，一年期存、贷款利率分别提至3.5%和6.56%。前三次皆引发了“转存”潮。不过今年来随着通胀预期上升，2011年4月出现了存款大搬家。本次加息之后，一年期定存利率已经升至3.5%，但业内人士称若一年期定存已超30天，转存不划算，储户需谨慎。

The move raises the benchmark one-year deposit rate to 3.50 percent and the one-year benchmark lending rate to 6.56 percent. Financial commentator Ye Tan says the already stagnated real estate market faces even more stringent challenges as a result.

"The interest rate increase will further affect the property market, which is already cooling down due to current administrative policies. The rate increase will hit the market even harder, and the cost of buying properties will jump considerably."

The interest rate hike once more burdens those who are paying monthly mortgage loan repayments, with a 20 year-housing loan of one million yuan now requiring the homeowner to pay 149 yuan more each month. The overall interest amount on a loan of this kind will increase from 830 thousand yuan up to 870 thousand yuan.

For the past few months, Chinese people have searching for avenues to hedge against inflation by investing in multiple markets. Higher interest rates ought to attract more citizens' deposits, which is believed to further ease inflationary pressure and cool down the over-heated investment market.

Liu Xiaojun, the President of Taizhou Bank, says they've found it increasingly difficult to attract local residents' deposits, and the increase in interest rates has not made him any more positive.

"The current monetary policy gives high pressure to bank's capital chain. It's almost impossible for us to accomplish the goal of absorbing deposits set at the beginning of the year. Therefore, we've had to re-adjust our goal, which of course will affect the bank's eventual profit. The loss on profit will probably reach 10 percent this year."

Compared to the surging Consumer Price Index (CPI), the real interest rate would still be negative. As the main gauge of inflation, CPI rose by 5.5 percent in May compared with the previous year, setting a 34-month high, well above the government's target ceiling of 4 percent for the year. Experts expect the government to increase rates twice more before the end of this year in a hope to ease inflationary pressure.

These higher lending interest rates will also subsequently burden many small-and-medium sized companies.

Taking this into consideration, Tan Yaling, President of China Foreign Currency Investment Research Institute suggests the government come up with favorable policies to reduce their burdens.

"Those companies' profit margins are being compressed and they will face higher pressure. I think the government should provide policy support to assist them."

Interest rate increases are a double-edged sword. While easing inflation, the adjustment also produces more pressure on currency appreciation. RMB appreciation is likely to attract more hot money into the Chinese investment market, which increases risk further for the Chinese economy. Experts suggest that the government implements more stringent administrative measures for overlooking capital flows into the country in order to avoid such risks.

For CRI, I'm Liu Min.

声明：音视频均来自互联网链接，仅供学习使用。本网站自身不存储、控制、修改被链接的内容。"沪江网"高度重视知识产权保护。当如发现本网站发布的信息包含有侵犯其著作权的链接内容时，请联系我们，我们将依法采取措施移除相关内容或屏蔽相关链接。