China raises rates to cool growth
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China increases its interest rates for the first time since 1995, a move widely seen as a further attempt to prevent its economy from over-heating.
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China&#39;s central bank has raised interest rates for the first time in 14 years, in a bid to moderate the country&#39;s explosive economic growth.
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China&#39;s central bank raised interest rates for the second time in less than a month on Friday in an attempt to rein in soaring food prices, excessive bank lending and bubbles in the property and stock markets.
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Chinaâs sizzling economy grew 11.5 percent in the third quarter, surging ahead despite official efforts to cool the countryâs boom.
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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 on Sunday took aim at price manipulators and hoarders of goods, as Beijing ramped up its campaign to rein in inflation which is running at its highest level in more than a decade.
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BEIJING -- China's booming economy grew even faster last year than originally thought, the government said yesterday, as authorities made public another measure meant to rein in the growth they fear could create problems.
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China came under pressure on Saturday   to let its currency rise faster to ease imbalances in trade and   capital flows that pose one of the biggest risks to global   growth.
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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 raised its benchmark interest rates on Thursday for the sixth time this year, the latest in a series of tightening steps to contain inflation and prevent the world's fourth-largest economy from overheating.
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Seeking to cool Chinaâs rapid growth rate, the Peopleâs Bank of China announced Friday that it will raise interest rates to 6.84 percent, the highest level in eight years.
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Inflation in China reached a 27-month high last month, but separate figures for growth in the money supply and loans suggested that the broader economy was not yet overheating.
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China raised the interest rate on mortgage loans to 1.1 times the nationâs benchmark lending rates and increased the minimum down payment on apartments intended for investment in an effort to cool surging property prices.
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China&#039;s economy expanded at its fastest pace in a decade with growth of 11.3 percent in the second quarter, official data shows, exceeding expectations and possibly signaling the need for new cooling measures.
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The Asian Development Bank on Wednesday raised its forecast for China's economic growth this year to 10.4 percent, citing surging investment and exports, and warned of possible dangers to long-term stability.
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China said yesterday that its economy grew at an 11.9 percent annual rate in the second quarter of this year, the fastest pace in more than a decade, reigniting fears the economy is overheating.
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China has raised its core interest rates for the first time in nine years, as the country&#39;s central bank moves to rein in the booming economy.