China Raises Interest Rates For First Time Since 2007

by | Oct 19, 2010 | Towing

China hiked its interest rates for the first time since 2007 in a bid to combat rising inflation.

The People’s Bank of China raised its one-year deposit rate to 2.5% from 2.25%, while the lending rate rose to 5.56% from 5.31%, Bloomberg News said.

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Inflation rose to 3.5% in August, highlighting the risk of an overheating economy. China, the world’s second-largest economy, grew at an…

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China Raises Interest Rates For First Time Since 2007 originally appeared on DailyFinance on Tue, 19 Oct 2010 08:02:00.

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Fed’s Hoenig Warns Against Further Monetary Action

by | Oct 12, 2010 | Towing

Kansas City Federal Reserve President Thomas Hoenig broke ranks with some of his fellow regional Federal Reserve executives Tuesday, warning against further monetary action as a way to spur economic activity.
C…

Bank of England Leaves Interest Rates, Asset Buying Unchanged

by | Oct 7, 2010 | Towing

The Bank of England left interest rates at 0.5% for the 20th month in a row and maintained its asset-buying program unchanged, Reuters reported.

The interest rate decision was widely expected by economists. Still, mixed economic data and a divided policy-making board mean that the future is uncertain for the asset-buying program.

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The U.K economy posted growth of 1.2% in the second…

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Bank of England Leaves Interest Rates, Asset Buying Unchanged originally appeared on DailyFinance on Thu, 07 Oct 2010 07:45:00.

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Stocks Soar on Services Growth and Japan’s Rate Cut

by | Oct 5, 2010 | Towing

The Dow surged nearly 200 points, while inflation fears propelled gold to another record close.
The Institute for Supply Management said its services index rose to 53.2 last month from 51.5 in August. Economists had expected t…