HONG KONG — China raised interest rates for the fifth time in nine months Wednesday, the latest in a series of moves aimed at cooling the pace of economic growth and the steep price increases that have accompanied expansion.

The central bank announced that it was raising the key lending and deposit rates in the world’s second-largest economy, after the United States, by a quarter of a percentage point. The increase had been widely expected by analysts.

The central bank said the one-year deposit rate would rise to 3.5 percent from 3.25 percent, beginning Thursday. The one-year lending rate was increased to 6.56 percent from 6.31 percent.

Signs that inflation in China has accelerated to levels well above what the Chinese authorities are comfortable with have mounted in recent months and prompted Beijing to step up its efforts at reining in the ample lending that fueled growth and helped fan sharp increases in real estate prices as well as overall inflation.