China raises rates to cool supercharged economy

01/7/2010 | Bloomberg · Wall Street Journal, The

The People's Bank of China started increasing interest rates to cool its economy and curb the threat of asset-price inflation after a substantial jump in credit. "It's a signal toward the commercial banks, because the commercial banks allocate their lending at the start of the year -- it's a signal not to overindulge," said Alaistair Chan, an economist with Moody's Economy.com.

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Bloomberg · Wall Street Journal, The

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