Interest Rate Hike




China raises deposit reserve requirement by 0.5%
The central bank decided to raise the deposit reserve requirement ratio of commercial banks to a record high of 15.5%.

Wen says fully confident in controlling inflation
Chinese Premier Wen Jiabao said Tuesday that the government is fully confident in controlling inflation this year, although it will not be an easy job.

Wen: China to adopt monetary policies properly
Chinese Premier Wen Jiabao said on Tuesday that how to properly adopt various monetary policies is a great test to China.

From Top Officials
The consumer price index (CPI), and not asset prices, is the major factor in decisions regarding raising interest rates, suggested Zhou Xiaochuan, chief of the People's Bank of China.

China's central bank admitted on Wednesday that the country is coming under increasing pressure from price hikes, and acknowledged inflation risks are "worthy of attention".

The central bank is concerned about inflationary pressure and is ready to make use of a range of monetary policy tools to curb prices rises, a senior official said yesterday.

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