China raises key interest rates to fight inflation
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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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Chinaâs annual inflation rate dropped sharply in November, heartening policy makers who have been striving to cool the economy and reducing chances of a further rise in interest rates in the near term.
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Greater flexibility in China&#39;s exchange rate is in the nation&#39;s best interest to help the central bank better manage the effects of inflation and should be pursued ``without undue delay
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Chinese inflation jumped to 2.7% in February, driven by higher food costs, official state figures show.
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India's central bank raises its main interest rate to a near four-year high in an attempt to curb inflation.
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China dramatically stepped up the appreciation of its currency, allowing it to push through an important level against the dollar for the first time.
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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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Chinese inflation rose in February on the back of higher food costs, but economists said they did not expect price pressures to get out of hand despite breakneck growth and plentiful cash in the banking system.
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China's annual inflation rate dropped sharply in November, heartening policy makers who have been striving to cool the economy and reducing chances of a further rise in interest rates in the near term.
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South Korea's central bank raises interest rates to a six-year high of 4.75% in an effort to tackle inflation.
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China&#39;s central bank jolted global financial markets by raising its benchmark interest rates for the first time in nine years to cool the world&#39;s fastest-growing major economy.
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The Bank of England raises UK interest rates to 5.75% as it tries to bring inflation under control.
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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's central bank on Thursday raised  interest rates for the first time in nearly a decade in a  surprise move that was the boldest so far aimed at guiding a  heated economy onto a path of slower growth.
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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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China's central bank yesterday raised interest rates for the first time in nearly a decade, signaling deepening unease with the breakneck pace of development and an intent to reign in a construction boom now sowing fears of runaway inflation.
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CHINA has raised its interest rates for the first time in nine years to curb inflation and stop its fast-growing economy overheating.