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閱讀理解
It was a day to celebrate if your family had put most of its money in a bank．You will get more money back because of a recent rise in interest rates．
On October 29, for the first time in nine years, the People’s Bank of China(PBOC)raised interest rates．The rate for one-year renminbi deposits(存款)was increased from 1.98 percent to 2.25 percent．And the rate for one-year renminbi loans(貸款)went up from 5.31 percent to 5.58 percent．Longer term rates saw higher increases．
So what are interest rates?Banks offer some money to encourage people to keep their savings in a saving account, and ask more money in return if you borrow money from them．The percentage of the extra money is the interest rates．
If your parents have borrowed money from banks to pay for houses or cars, the interest rates rise was not good news．An increase in the interest rates on a loan means the borrower will need to repay more to the bank．For example, a person who borrowed 10,000 yuan from the bank had to return 10,531 yuan before the interest rise．But after the interest rates are increased, he was to pay extra 27 yuan per year．
The rise came following a great demand for the cooling of the overheating Chinese economy．For several years, pushed by a huge investment and construction projects, the country has had the fastest economic growth in the world．But this can be damaging just as it is when a person grows too fast and can no longer fit their clothes．It is hoped that with a higher interest rate people will act more cautiously and take less risks when borrowing money．
“The rate rise will help the economy to cool down．It will reduce investment in unnecessary industrial and construction projects,”said Su Ning, deputy governor of the PBOC．
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