Archive for December 27th, 2010

New Overnight Developments Abroad - Daily Update

Chinese Rate Hike on Christmas Day

December 27, 2010

The People’s Bank of China implemented a second rate increase, lifting its key lending rate to 5.81% from 5.56% and 5.31% at the beginning of 4Q10.  The central bank deposit rate is now 2.75%, up from 2.5% and a cyclical low of 2.25%.  The action was announced on Christmas Day,a day when almost all market […] More

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