March 17 (Bloomberg) -- China raised interest rates for the third time in 11 months to curb inflation and asset bubbles in the world's fastest-growing major economy.
The one-year benchmark lending rate will be raised to 6.39 percent from 6.12 percent, starting tomorrow, the Beijing-based People's Bank of China said today on its Web site. The one-year deposit rate will be increased to 2.79 percent from 2.52 percent. A central bank spokesman confirmed the increases.
Monday should be interesting.
The one-year benchmark lending rate will be raised to 6.39 percent from 6.12 percent, starting tomorrow, the Beijing-based People's Bank of China said today on its Web site. The one-year deposit rate will be increased to 2.79 percent from 2.52 percent. A central bank spokesman confirmed the increases.
Monday should be interesting.
This entry was posted
on Saturday, March 17, 2007 at 3/17/2007 01:01:00 PM.
You can skip to the end and leave a response.
» Post a Comment