China lifted interest rates for the second time in four months Friday as part of its efforts to deal with fast-rising credit and investment expansion. The People's Bank of China raised both benchmark lending and deposit rates by 0.27%, to 6.12% and 2.52%, respectively. Analysts did not expect the PBOC to act this fast; rather it was thought China's central bank would wait to see the impact of recent measures to control credit and investment, the Financial Times reported. On April 27, the government lifted only lending rates. This time around, Beijing may have moved to raise deposit rates as well because money kept in banks currently offers a negative return after inflation is calculated.