China Raises Bank Reserves to a Record 19.5 percent
February 18, 2011 at 12:51 PM EST
China on Friday raised required reserves to a record 19.5%, adding to an increasingly aggressive effort by Beijing to stamp out stubbornly high inflation. The move by the People’s Bank of China followed an acceleration in inflation to 4.9% in the year to January, which was accompanied by worrying signs that price pressures were spreading [...]