China Raises Rates Again to Combat Inflation
February 08, 2011 at 09:02 AM EST
Last night, the People’s Bank of China(Chinese central bank) raised interest rates by another 25 basis points to 3.0 percent. This action by the central bank moved lending rates to 6.06 percent from 5.81 percent. Whenever the China government has increased rates it has caused the commodities markets to deflate. This morning before the opening [...]