China Jacks Up Interest Rates

China pumped up its interest rates for the third time in four months today, in a desperate attempt to rein in inflation. One-year deposit rates rose to 3%, and the one-year lending rate to 6.06%, the New York Times reports, and analysts expect still more increases down the road.

Excerpt from:
China Jacks Up Interest Rates

Posted by on February 8, 2011. Filed under News, World News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry