The Bank of China said the government may look to introduce more macroeconomic controls in the second half of the year to cool an apparent economic overheating, the Shanghai Securities News reported. In the bank’s monthly monetary market report, the bank said that most macroeconomic indicators pointed to continued rapid growth during the first half of this year, predicting GDP would increase 11.3% this year, beyond the central bank's expectation of 11%. Likely measure included rate hikes and the cancellation or reduction of taxes on bank interest. The bank added that increases in the price of agricultural products, rebounding oil prices, resource price adjustment and the "wealth effect" of the stock market were probably the main pressures driving the consumer price index (CPI) to 4% in June.