China again hikes interest rate in inflation fight
December 26th, 2010
11:44 AM ET

China again hikes interest rate in inflation fight

China's central bank has raised its interest rate for the second time in just over two months as the nation fights to keep inflation in check.

The People's Bank of China said on its website that it is raising the benchmark interest rate by a quarter of a percentage point beginning Sunday. The move increased the one-year lending rate to 5.81% and one-year deposit rate to 2.75%.

China last raised interest rates on Oct. 20 - the first increase in nearly three years, according to state run media.

Higher food prices continue to be the main driver of inflation in China, and rate hikes were expected as the country tries to reel in its red-hot economy.

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soundoff (38 Responses)
  1. Fred Bartkowski

    Heh heh. I don't have to walk.
    Still have a vehicle. But the seat belt things stick in my ribs when sleeping.
    Still very nice and comfortable though.

    December 26, 2010 at 6:40 pm | Report abuse |
  2. RUFFNUTT

    is there anything not made in china anymore?

    December 26, 2010 at 7:08 pm | Report abuse |
    • Mmmmm

      Yeah ba-ay-bey! You and your effenuts!

      December 26, 2010 at 8:21 pm | Report abuse |
  3. Demon hunt

    Yeah everything is made in china. i love diz communist country who say that communism dosn't work. Are people blind or is the flouride in the water here in the u.s. That have diz people blind. Communism works look at china. They are better than us. Keep the good work communist. And down with capitalist that is proven. Capitalism don't work!!!

    December 26, 2010 at 7:32 pm | Report abuse |
    • Mmmmm

      I'm sure Fred will agree if you're buying and he's selling....capitalism works!

      December 26, 2010 at 8:26 pm | Report abuse |
  4. RUFFNUTT

    i think the floride in the water makes me buy stuff at walmart that i dont need.

    December 26, 2010 at 8:37 pm | Report abuse |
  5. phil

    Actually it's the flouride in your toothpaste. Triclosan is an antibacterial chemical found in toothpaste, thousands of hand sanitizers, hand cleaners and other products. Back in 2003, the FDA began testing this chemical on animals and found it disrupted hormone levels and can encourage the growth of antibiotic-resistant strains of bacteria. By 2006, the Centers for Disease Control and Prevention had determined that triclosan found in American's urine had increased 43% over a 4 year period. (2003 thru 2006) Since 2006, the FDA hasn't said another word about triclosan, other than it is looking into the matter. (the same thing they told US 2006) Wal-Mart is well known for being America's #1 supplier of red-meat processed with setroids and hormones that disrupt hormone levels in humans. So don't forget to brush your teeth after that T-Bone.

    December 26, 2010 at 11:52 pm | Report abuse |
  6. niknac

    If China is selling the US their goods, and for cheap, then we get more products at a lower opportunity cost to us. Plus, there's really no problem if we buy so much from the Chinese, all it means is they have a special interest in making sure we are happy. Cause if we aren't happy, then we don't trade, and if we don't trade: they fail.

    December 27, 2010 at 1:04 am | Report abuse |
  7. Koji

    The real difference between communism and capitalism are, in a capitalistic country you can talk about the glories of communism, but if you are in a communist state and you mention capitalism you get thrown in prison.

    December 27, 2010 at 2:29 am | Report abuse |
  8. Pdine

    I heard that with China at its current population, 1 in 6 people in the world will be Chinese. This worries me because I have six people in my family. I know its not me and its definitely not my younger brother Hu Jin. I think it might be my older brother Jacob.

    December 27, 2010 at 7:24 am | Report abuse |
  9. Sidewinder

    Phil, that's just gross. Who buys meat at Wal-Mart?

    I try not to shop there at all. Interesting about the toothpaste. I may call one of my contacts at Food and Drug to see what they have to say about the Triclosan.

    I work in the Commercial Trade industry. (Import side) Don't get me started on China. Lol

    December 27, 2010 at 8:10 am | Report abuse |
  10. phil

    Good Morning Sidewinder. Yes, please do inquire about triclosan and let us know what you find out. And don't get ME started on China. he he

    December 27, 2010 at 9:58 am | Report abuse |
  11. Big Joe

    *

    December 27, 2010 at 11:46 am | Report abuse |
  12. Big Joe

    OK, I won't bring up China, but I like Chinese food. I like the great Wall of China (astronauts can see it from outer space) I like how China doesn't spend a lot of money for aid everywhere like USA, and I like how China keeps their military out of harm's way, and I like the fact that China extends credit to USA. I like how China is not in debt like our gov't is. But, I won't mention China.

    December 27, 2010 at 11:55 am | Report abuse |
  13. phil

    I like how China discovered America in 1421, and how Columbus had one of their maps before setting sail.

    December 27, 2010 at 4:33 pm | Report abuse |
    • RUFFNUTT

      if they found it in 1421 did they atleast inform the indians?

      December 27, 2010 at 9:25 pm | Report abuse |
  14. Big Joe

    It's always about China, all the time. China, China, China. Marsha, Marsha, Marsha.

    December 27, 2010 at 4:46 pm | Report abuse |
  15. phil

    RUFFNUT...We all know Indians were in the America's long before Chinese or European explorers arrived. Linguistics has shown us that all of the American Indians(N. American, S. American and Central American) originated in China. Close examination of languages spoken by different tribes can even be traced to languages spoken in individual ancient Chinese provinces. The Chinese discovery left traces like plants and animals native to China only, and preceded the European discovery that left traces of blood and destruction.

    December 28, 2010 at 7:04 am | Report abuse |
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