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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	10/19/2010 7:43:50 AM
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China Raises Interest Rates BEIJING—China's central bank said Tuesday it will raise its benchmark deposit and lending rates by 0.25 percentage point for the first time since an increase in December 2007. The latest move represents the strongest effort yet by Beijing to withdraw its monetary policy stimulus introduced during the global financial crisis and comes amid rising inflationary pressures. The PBOC said in a statement it will raise the one-year yuan lending rate to 5.56% from 5.31%, and the one-year yuan deposit rate to 2.5% from 2.25%. From September to December 2008, the People's Bank of China had slashed benchmark lending rates several times as part of the government's efforts to prevent a sharp economic downturn during the global crisis. online.wsj.com

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