interest rate

China’s Developers Surge After Interest Rate Cut

Bloomberg news staff Bonnie Cao reports on the central government interest rate cut and the immediate effects on the real estate market:“All financial institutions must continue to strictly implement a differentiated housing...

China Banks Witness Profit Surge – BBC News

From BBC News: Half-year profits at two of China’s biggest banks have surged on the back of higher lending and rising fees. Industrial & Commercial Bank of China (ICBC) , China’s biggest bank, said net profits for the six months to June rose 62% to 41.04bn yuan ($5.4bn; ¬£2.7bn) Meanwhile, Bank of China revealed net […]

China Raises Interest Rates 4th Time in 2007 to Curb Inflation – Dong Zhixin

From China Daily: China’s central bank raised the benchmark interest rates on Tuesday for the fourth time this year in an effort to prevent the economy from overheating and curb accelerating inflation. The one-year deposit rate will increase 27 basis points to 3.60 percent, while one-year lending rate will rise by 18 basis points to […]

China Lifts Rates, Cuts Tax on Savings – Mure Dickie

From Financial Times: China on Friday responded to a surprise acceleration in growth during the second quarter and a jump in inflation by announcing it would slash its tax on bank deposit interest income and raise interest rates . The moves had been widely expected after Beijing on Thursday unveiled second-quarter growth in gross domestic […]

China Stocks Fall 5% on Fears of Tightening – Jamil Anderlini

From Financial Times: China’s stock market dropped nearly 5 per cent on Thursday, the sharpest since February 27 when a Chinese correction was blamed for triggering a global sell-off, on concerns the government might act soon to slow soaring valuations. Analysts said the market was reacting in anticipation of strong GDP numbers that could lead […]

China to Raise Key Interest Rate – Audra Ang

From Associated Press: China’s Central Bank Announces 0.27 Percentage Point Increase in Key Interest Rates China’s central bank said Saturday it will raise key interest rates by more than a quarter percentage point in a move to cool torrid economic growth.The 0.27 percentage point hike in one-year deposit and lending benchmark rates will go into […]

China should maintain its macro control strength following interest – Xinhua

From Xinhua, via The People’s Daily: Economists believe China should continue to strengthen its macro control policies following the rise in interest rates announced on Friday. China raised its benchmark interest rate by 0.27 percent to prevent possible overheating in its economic boom – the second interest rate hike this year. It will take some […]

China Has No `Immediate’ Plan to Raise Interest Rates – Bloomberg

From Bloomberg News: People’s Bank of China Governor Zhou Xiaochuan said he has no “immediate” plan to raise borrowing costs and will study the effects of April’s surprise increase before deciding whether to tighten more. “We are still monitoring the results of the last interest rate increase, and there won’t be any further measures immediately,” […]

IMF suggests China raise interest rates further – Victor Mallet

From the Financial Times (link) The International Monetary Fund on Tuesday warned China of the dangers of over-investment in sectors such as construction and property and recommended further monetary tightening following the small rise in interest rates imposed by the central bank last week. Wanda Tseng, deputy director of the IMF’s Asia and Pacific department, […]

Asian Stocks Slide From 16-Year Highs After China Raises Rates – Bloomberg

From Bloomberg (link) Asian stocks dropped from 16-year highs this week, led by BHP Billiton and PetroChina Co., after China’s central bank unexpectedly raised its key lending rate to cool economic growth and crude oil tumbled. “We’re lightening up on resources shares because we’re not convinced that the hype about Chinese demand quite matches the […]

Yuan May Drop on Speculation China to Curb Gain After Rate Rise – Bloomberg

From the Bloomberg News (link): The yuan may decline after China unexpectedly raised benchmark interest rates yesterday to curb surging investment, stoking speculation the central bank won’t need to rely on faster currency gains to cool economic growth. China is under pressure from the U.S. and the Group of Seven nations to rely less on […]

More reports on the interest rates

New York Times had an article entitled Markets calm after China rate rise): “Mainland Chinese stock markets dropped less than 2 percent on Friday as most Asian financial markets reacted with surprising calm to the Chinese central bank’s announcement late on Thursday of its first increase in interest rates in nine years. ” On the […]

Fears grow for China after first rate rise in nine years

“China yesterday raised its benchmark interest rates for the first time in nine years, betraying its increasing concern about the future of its overheating economy. Oil and metal prices fell and mining stocks slumped on the London Stock Exchange after the central bank announced the 0.27pc point rise, which leaves the country’s one-year lending rate […]

China Raises Interest Rates for First Time in 9 Years

From Bloomberg: “China’s central bank jolted global financial markets by raising its benchmark interest rates for the first time in nine years to cool the world’s fastest-growing major economy. The one-year lending and deposit rates will rise 0.27 percentage point to 5.58 percent and 2.25 percent respectively, effective tomorrow, the Beijing-based People’s Bank of China […]

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