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China Friday raised two short-term borrowing rates for the first time since 2013 in what analysts called a sign that inflation fears were beginning to override the desire to spur growth in the world's second-largest economy. The People's Bank of China raised the interest rate for the seven-day repurchase agreement – a tool used to adjust monetary policy – to 2.35 percent from the previous 2.25 percent, a statement on its website showed.The longer 14- and 28-day repo rates were hiked by 10 basis points.
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