China raising interest rate again

On Thursday for the fourth time in 6 month China raised interest rate. The one-year lending rate rose by the same  amount, to 6.31 percent. The latest rate increases was announced on a national holiday when the financial  markets were closed , some analysts believe that it  will be followed by another increase in May.In my opinion raising interest rate is a good thing because it force people to hold more money in  their accounts and makes it very expansive for companies or individuals to borrow money from the bank which would help upward pressure on prices.