China hikes loans, deposit rates
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Chinaâs move to hike interest rate has come as a surprise. The central bank raised the benchmark rate on one-year yuan loans to 5.58 per cent from 5.31 per cent and the rate on one-year deposits to 2.25 per cent from 1.98 per cent.
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Investor's Business Daily - Chinese officials on Wednesday debated a plan that gives China&#39;s State Council the power to cut or cancel its tax on bank deposit interest. The 20% tax was imposed in November 1999 to boost spending after the Asian financial crisis.
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Chinese consumer 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 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 on its website.
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China's central bank on Thursday 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&#39;s central bank raised official borrowing costs for the first time in nine years Thursday night, a step aimed at slowing breakneck economic growth and inflation
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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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Beijing, Oct. 28 (PTI): China today raised its interest rates for the first time in nine years to consolidate macro economic adjustment and ensure healthy growth of the economy, the apex bank said here.
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China raised interest rates on Thursday for the sixth time this year, the latest of a series of tightening steps to cap inflation and prevent the world's fourth-largest economy from overheating.
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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'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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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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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
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Half-year profits at two of China's biggest banks surge on the back of higher lending and rising fees.
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China sought Friday to soothe concerns over a surprise interest rate rise, its first in nearly a decade and one which is expected to kick off a series of increases to cool growth in the world&#39;s seventh-biggest economy.
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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.
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China&#39;s central bank said its decision to scrap a cap on lending rates is part of a plan to bring its banks more in line with international standards and give them more freedom to lend.