the country’s central bank

The one-year lending rate and deposit rate will be 6.06 percent and 3.0 percent respectively, effective on Feb. 9.

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The one-year lending rate and deposit rate will be 6.06 percent and 3.0 percent respectively, effective on Feb. 9. This is the first hike in 2011,polo ralph lauren, following two such moves in late 2010.

The hike is meeting consensus expectation. Senior economist Lu Zhengwei with Industrial Bank had predicted further hike of rate on January 24 in a report,franklin and marshall, as well as a 0.5 percent hike in the deposit reserve ratio.
Chief economist Zuo Xiaolei with Galaxy Security said in addition to interest hike,franklin marshall, the central bank is also likely to raise deposit requirements in late February or early March.
Putting together, the key rates are likely to increase by 100 basis points in 2011,adidas foot, Citigroup report said.
The People’s Bank of China,franklin et marshall, the country’s central bank,adidas adizero, raised its key lending and deposit interest rates by a quarter-point on Tuesday, its second increase in just over a month o curb inflation.
High inflationary pressure remains the major cause of rate hike, according to Citigroup report, with CPI, which gauges inflation,polo ralph lauren pas cher, being expected to reach up to 6 percent in the second quarter and 4.6 percent for the whole year by Chief Economist,adidas f50, Great China of the bank.
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