China Raises Interest Rates for First Time in 9 Years
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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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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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The central bank raised its overnight repo rate on Tuesday for the first time in more than four years, citing concerns about a rise in inflation in Asia's fourth-largest economy.
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China's consumer price index crept up by 0.9 percent in July compared with a year earlier, ending 68 consecutive months of decline.
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China's central bank on Thursday raised interest rates for the first time in nearly a decade in its boldest move yet to guide its heated economy to a path of slower growth.
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China&#39;s economy expanded at a roaring 11.9 percent in the second quarter, official data showed Thursday, prompting warnings that the government will clamp down hard to stop serious overheating.
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The U.S. Federal Reserve on Wednesday raised interest rates for a sixth straight time, extending a policy of gradually lifting borrowing costs to levels high enough to ward off inflation pressures.
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China should raise interest rates to cool the economy and prevent a future buildup of bad loans in the banking system, the Asian Development Bank&#39;s (ADB) Bei-jing representative Bruce Murray said.
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Asian financial markets showed a mixed reaction Friday to China's first interest rate rise in nine years, which analysts welcomed as a shift toward capitalist-style economic tools and away from central planning.
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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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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 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's economy grew by 9.5 percent in the first three quarters of 2004 compared to the same period last year, China's National Bureau of Statistics announced.
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China&#39;s hike in interest rates was a double-edged sword for many investors and economists. At one level, it suggested that Chinese growth is
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Bank of Japan Governor Toshihiko Fukui  proposed at the BOJ&#039;s rate-setting meeting on Friday that the  central bank raise interest rates for the first time in six  years, Kyodo news agency reported, citing unnamed sources.
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China has revised upward its gross domestic product (GDP) growth to 9.69 per cent during the first half of this year due to higher growth in service industries, the state media reported on Monday.
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BEIJING (Dow Jones)--China raised interest rates Thursday for the first time in more than nine years, escalating its battle to tame feverish economic growth but immediately