Tuesday, February 8, 2011

Inflation Rises Again, China Raises Interest Rates For 3rd Time in 4 Months

The People’s Bank of China has just announced that the 1-year lending rate will increase to 6.06% from 5.81% effective tomorrow. This is the the third time since mid-October that China has raised interest rates, "ahead of a report forecast to show inflation accelerated to the fastest pace in 30 months" (Bloomberg)
China joined India, Indonesia, Thailand and South Korea in raising rates this year, as well as Brazil.
The yuan climbed 0.1 percent to 6.5555 per dollar.

The ETF that tracks the Yuan is CYB. We track all currency ETFs live here.

Stumble Upon Toolbar

No comments:

Financial TV

Blog Archive

// adding Google analytics