Tag: People's Bank of China

• 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%.

• Wednesday, May 12th 2010 - 07:16 UTC

  China April Inflation Accelerates and Property Prices Jump 12.8%

  

  April inflation in China has accelerated as bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate.

• Friday, May 7th 2010 - 05:31 UTC

  Chinese Shares Plunge to 8 Month Low on Fears of Tight Credit

  

  Chinese shares plunged to an eight-month low Thursday on persistent concerns over weak overseas markets and government measures to tighten credit and curb property speculation, dealers said.

• Wednesday, May 5th 2010 - 06:14 UTC

  China’s Tightens Credit, Pushes Stock Markets to their Lowest in Seven Months

  

  China's stocks fell on Tuesday sending the benchmark index to the lowest in seven months, on concern ordering banks to set aside more reserves won't be enough to avert asset bubbles in the world's third-largest economy.