China raise interest again

--The benchmark one-year lending rate will rise by 0.27 percentpoint to an eight-year high of 6.84 percent tomorrow, the People'sBank of China said. The deposit rate will increase by the sameamount to 3.33 percent and a tax on interest income will be cut onAug. 15 to encourage saving. --The tax on interest income will fall to 5 percent from 20percent to counter the erosion of savings by inflation, thegovernment said.