The People’s Bank of China (the Chinese Fed) cut it keylending rate by 27 basis points 5.31%. This is the fifth time since September thatChina has cut interest rates.
{ 0 comments }
From the category archives:
Interest Rate News
China’s State Council outlined it plans forrejuvenating its economy and its included increasing the money supply by17% in 2009.
“We must further consider more direct, powerful and effective measures to stimulate economy,” said Chinese Premier WenJiabao
This is on top of the $586 billion stimulus plan and three interest ratecuts.
{ 0 comments }
China’s central bank cut interest rates by more than a fullpercentage point.
The key lending rate was dropped by 1.08% to 5.58%. This is the fourth time China has dropped interest rates since September 16, but this 1.08% cut is roughly fourtimes the 0.27% previous rate cuts
The reserve requirements at Chinese banks were also reduced to [...]
{ 0 comments }
South Korea cut interest rates for the third time in a month andhinted that more cuts are on the way: “take bigger actions if necessary.”
{ 0 comments }
The Hong Kong Monetary Authority cuts its benchmark interest rate by a half-point to1.5% yesterday. The Hang Seng jumped by 10% on the news.
Quite a different response than what we saw in the U.S. to a rate cut. I’ve said it before — if you’re going to beinvested in stocks, make sure your dollars are [...]
{ 0 comments }
China cut interest rates for thethird time in two months to keep its economy from following the U.S. slowdown. China’s key rate was cut from 6.93% to 6.66%.
{ 0 comments }
The Bank of Korea slashed interest ratesby 75 basis points, the most ever, in an attempt to restore confidence yesterday.
{ 0 comments }
The NewZealand Central Bank cut its key interest rates by a bold 1%. And it warned that it expects the current recessionto last a long time.
Sweden cuts rates by 1/2%.
{ 0 comments }
China unveiled a barrage ofpolicy changes to goose its real estate market.
==> Effective November 1, the down payment requirement for home buyers will be lowered from 30%to 20%.
==> China suspended tax dutieson the sale/purchase of homes and ended a value-added tax on individual home sales.
==> Home buyers will be able to get mortgages at 70% [...]
{ 0 comments }
The Monetary Authority of Singapore lowered interest rates for the first time since 2003, joining the other central banks in a coordinated attempt toprevent the credit crisis from deepening.
{ 0 comments }
