Tag: People's Bank of China

• Friday, June 8th 2012 - 20:21 UTC

  China lowers key rates and gives banks more flexibility to help boost growth

  

  China has cut its key interest rates for the first time since 2008, in an attempt to boost its slowing growth. The benchmark one-year loan rate was cut by a quarter of one percent to 6.31% while deposit rates were cut from 3.5% to 3.25%.

• Thursday, May 10th 2012 - 20:26 UTC

  China’s trade feeling the pinch of EU recession and US anaemic recovery

  

  China's export and import growth slowed in April raising fears about a sharp slowdown in its economy and triggering calls for monetary policy easing. Exports rose by 4.9% in April from a year earlier, down from the 8.9% annual growth seen in the previous month, a sign that global demand may be slowing.

• Wednesday, November 30th 2011 - 16:04 UTC

  China changes policy: eases credit and lowers bank reserves ratio

  

  China's central bank cut the reserve requirement ratio for its commercial lenders on Wednesday for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.

• Tuesday, July 12th 2011 - 23:32 UTC

  China secures one of IMF four Deputy Managing Director posts

  

  China has secured its first top-level post at the International Monetary Fund (IMF) in recognition of its growing power in the global economy. New IMF Managing Director Christine Lagarde appointed Zhu Min to a newly created deputy managing director post.

• Wednesday, July 6th 2011 - 15:48 UTC

  China hikes rates for the third time this year to combat inflation

  

  China has increased its main interest rates for the third time this year to try to curb inflation. Chinese central bank, the People's Bank of China, said its one-year lending rate would rise to 6.56% from 6.31% and its one-year deposit rate to 3.5% from 3.25%.

• Tuesday, May 31st 2011 - 07:43 UTC

  China: Yuan at record high against US dollar; Power shortage and higher prices

  

  China's Yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated. The People's Bank of China (PBOC) fixed the Yuan's mid-point at 6.4856 against the US dollar on Monday.

• Friday, May 20th 2011 - 10:16 UTC

  China says new IMF chief should better represent emerging economies

  

  The new leadership of the IMF should reflect changes in the world economic order and be more representative of emerging market economies, People’s Bank of China Governor Zhou Xiaochuan said on Thursday.

• Tuesday, April 5th 2011 - 21:23 UTC

  China anticipating higher inflation hikes interest rate by 25 basis points

  

  China’s central bank announced Tuesday it would raise the benchmark one-year borrowing and lending interest rates by 25 basis points beginning Wednesday. This is the second time that The People’s Bank of China raises the benchmark interest rate this year and the fourth such increase since the start of last year.

• Monday, December 27th 2010 - 08:02 UTC

  China raises interest rate determined to contain inflation, credit and property prices

  

  China’s central bank raised interest rates for the second time in less than three months as authorities ramp up efforts to curb borrowing, rein in property prices and tame inflation.

• Wednesday, October 20th 2010 - 01:04 UTC

  In a surprise move China raises interest rate for the first time since 2007

  

  China has raised interest rates for the first time since 2007, as it tries to rein in inflation and dampen its red-hot real estate market. The People's Bank of China said it will raise its one-year lending rate to 5.6% from 5.31% and its one-year deposit rate to 2.5% from 2.25%.