{"id":22206,"date":"2011-07-06T13:16:00","date_gmt":"2011-07-06T17:16:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=3135bf80a6c98400f83b809617773c00"},"modified":"2011-07-06T13:16:00","modified_gmt":"2011-07-06T17:16:00","slug":"peoples-bank-of-china-raises-interest-rate-25bps-to-6-56","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/07\/06\/peoples-bank-of-china-raises-interest-rate-25bps-to-6-56\/","title":{"rendered":"People&#8217;s Bank of China Raises Interest Rate 25bps to 6.56%"},"content":{"rendered":"<p><font class=\"Apple-style-span\" face=\"Verdana, Geneva, sans-serif\"><span class=\"Apple-style-span\" style=\"font-size: 12px; line-height: 16px;\">The\u00a0<\/span><\/font><a href=\"http:\/\/www.pbc.gov.cn\/\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px; text-decoration: none; color: rgb(55, 120, 205); \">People&#39;s Bank of China<\/a><font class=\"Apple-style-span\" face=\"Verdana, Geneva, sans-serif\"><span class=\"Apple-style-span\" style=\"font-size: 12px; line-height: 16px;\">\u00a0raised its one-year benchmark lending rate by 25 basis points to 6.56% from 6.31%, and the one-year deposit rate to 3.50% from 3.25%. The latest monetary policy tightening measures come after the Bank said on Monday that it would continue to implement a prudent monetary policy as inflationary pressures still remained high. \u00a0In a <\/span><\/font><a href=\"http:\/\/www.pbc.gov.cn\/publish\/goutongjiaoliu\/524\/2011\/20110704173412117184920\/20110704173412117184920_.html\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px; \">release<\/a><font class=\"Apple-style-span\" face=\"Verdana, Geneva, sans-serif\"><span class=\"Apple-style-span\" style=\"font-size: 12px; line-height: 16px;\"> on monetary policy the Bank noted the slow global economic recovery, and risk factors, as well as noting a continued\u00a0commitment\u00a0to rapid economic development, but with vigilance on inflationary pressures.<\/span><\/font><\/p>\n<div style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px; \"><\/div>\n<div style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px; \"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px; \">The People&#39;s Bank of China last increased the <a href=\"http:\/\/www.centralbanknews.info\/2011\/04\/peoples-bank-of-china-lifts-rate-25bps.html\">interest rate<\/a> by 25 basis points in April this year. \u00a0The Bank also raised the\u00a0<a href=\"http:\/\/www.centralbanknews.info\/2011\/06\/peoples-bank-of-china-raises-reserve.html\">reserve requirements<\/a>\u00a0by 50 basis points in June this year to 21.5%. \u00a0China reported inflation of 5.5% in May, up slightly from 5.3% in April, and 5.4% in March this year, and above the government&#39;s target of 4%. \u00a0Meanwhile forecasts for June inflation are for as much as 6.5%, however many analysts see inflation peaking in June\/July.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\" style=\"text-decoration: none; color: rgb(55, 120, 205); \">www.CentralBankNews.info<\/a><\/span><\/div>\n<div class=\"blogger-post-footer\"><img width='1' height='1' src='https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-516400276697907788?l=www.centralbanknews.info' alt='' \/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0People&#039;s Bank of China\u00a0raised its one-year benchmark lending rate by 25 basis points to 6.56% from 6.31%, and the one-year deposit rate to 3.50% from 3.25%. The latest monetary policy tightening measures come after the Bank said on Monday tha&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22206","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=22206"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22206\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}