Pay less notice to China’s latest monthly industrial production and retail sales figures — both up 16% in October from a year before, with the trade surplus almost doubling from September, to $24 billion, as the contraction in exports eased to its slowest pace this year — and more to the subsequent statement by the [...]
Posts Tagged as ‘People’s Bank of China’
November 26, 2008
China Makes Big Cut In Rates
China’s newly announced cut in interest rates is the fourth cut since mid-September and biggest since the Asian financial crisis in 1997. The People’s Bank of China lowered its benchmark one year rate to 5.58% from 6.66%, to take effect on Thursday. The central bank also lowered the reserve requirements it imposes on banks, by [...]
