China announces hike in interest rates for the first time in nine ...
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China announced Thursday it will raise interest rates for most deposits and loans by more than a quarter point - the first rise in nine years - in a move to cool down the torrid Chinese economy.
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China's economy will grow by 9.3 percent this year, the government forecast Thursday, amid signs that efforts to tame the economic boom may be failing to cap inflation.
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The increase fed speculation that China was yielding to international pressure and the state of its economy.
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China on Thursday announced it will raise interest rates for one-year loans by 0.27 percentage points to 5.58%, the first increase in more than nine years.
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China reported its lowest rise in inflation in nine months on Friday as growth in grain and food prices moderated, easing pressure on the central bank to raise interest rates.
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China has succeeded in curbing investment and credit growth, and the priority now is to free up interest rates, a central banker said in remarks that may signal long-awaited capital market reforms are drawing nearer.
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Business News, BEIJING, China&#39;s annual inflation rate dropped sharply in November, providing further evidence that steps to cool the economy are working and reducing the chances in the near term of a fresh rise in interest rates.
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China's central bank sought on Friday  to soothe concerns over its first interest rate hike in nearly  a decade, saying it will not have a big impact on the economy  or the pegged yuan currency.
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The People&#39;s Bank of China, or China&#39;s central bank, announced Thursday to raise both lending and deposit interest rates 0.27 percentage point higher as from Oct. 29.
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China has decided to raise its benchmark one-year lending rate to 5.58 percent from 5.31 percent with effect, the first such move in nearly a decade, the central bank said.
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Surging food prices boosted China&#39;s  annual consumer price inflation in May to a 27-month high,  extending a rising trend and reinforcing expectations that  interest rates will rise further.
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The People&#39;s Bank of China, China&#39;s central bank, announced yesterday that it would raise both lending and deposit interest rates 0.27 percentage point as of today.
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China&#39;s annual inflation rate dropped sharply in November, providing further evidence that steps to cool the economy are working and reducing the chances in the near term of a fresh rise in interest rates.
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China raised interest rates on Friday in the latest of a series of tightening steps aimed at keeping inflation in check and preventing the world's fourth-largest economy from overheating.
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European stock markets mostly fell in early deals as investors digested a move by China to hike interest rates for the first time in almost a decade to rein in the country's strong economic growth.
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THE US Federal Reserve has raised interest rates for the fifth time since June and signalled it was likely to keep pushing them higher at a &quot;measured&quot; pace in the new year.
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China raises interest rates in a move to dampen inflation and stop the economy overheating.