Burma's state-run media say the central bank and the country's commercial banks raised their interest rates by two percentage points effective April first.
The central bank raised its rates to 12% from 10% per year, while rates at private banks went up to 17% from 15% for ordinary loans. Private rates climbed from 13% to 15% for special loans for agriculture and industry.
The interest rate on savings accounts was raised from nine percent to 12% per annum.
