China has raised its key interest rates this morning by 0.25% as the country continues to try to tackle its inflation problem. The deposit rate now stands at 3.25%.
It would seem a bit surprising that the rate hike would be announced today, as it's a holiday in China, but it isn't the first time a holiday has been used to hike rates, with this past Christmas the most recent example.
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See Also:
- If You Think The Emerging Market Inflation Problem Is Under Control You Don't Have A Clue
- Goldman Sachs Just Gave China A Big Upgrade
- Chinese Economist Admits That Country Is In No Position To Dump Its Dollars
Full story at http://feedproxy.google.com/~r/businessinsider/~3/Yn2MnKPz2zg/china-just-hiked-its-rates-by-another-025-2011-4
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