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29th of June 2011
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News Tag: inflationary pressures

April 5, 2011

People’s Bank of China raises interest rates to tame inflation

by Kay Mitchell
People’s Bank of China raises interest rates to tame inflation
The People’s Bank of China today lifted interest rates in a further attempt to fight stubborn inflation. The central bank increased the one-year yuan lending rate by 25 basis points to 6.31% and the one-year yuan deposit rate, also by 25 basis points, to 3.25%. The latest figures from China’s National Bureau of Statistics (NBS) show the consumer price ...




March 23, 2011

China could surpass US and become world’s no.1 economy

by Kay Mitchell
China could surpass US and become world's no.1 economy
According to Justin Lin, the World Bank's chief economist, China has the potential to overtake the US and become the world’s largest economy. Mr Lin’s comments come shortly after official data last month revealed China had become the world’s second largest economy – taking over from Japan, which slipped into the third place. At the end of 2010, Japan’s economy ...




March 22, 2011

China’s yuan hits record high against US dollar

by Kay Mitchell
”China’s
The yuan has risen to an all-time high against the US dollar today - trading in a range from 6.5552 (a record high) to 6.5596 and up from Monday's close of 6.5611. The currency has now risen about 4.1% since last summer and 0.2% this week alone. Beijing has been under pressure to let its currency appreciate more quickly ...




CBI: Factory index picks up speed

by Kay Mitchell
”CBI:
The Confederation of British Industry’s (CBI) industrial trends survey today revealed factory orders growth picked up pace in March. The survey’s total order book balance accelerated in March to +5 from February‘s -8, easily beating expectations of a reading of -6. The reading represented the highest since March 2008, according to the lobby group. Furthermore, the gauge for domestic price expectations climbed 1 point ...




March 14, 2011

BDO warns of premature interest rate rise

by Kay Mitchell
’BDO
Accountancy firm BDO has joined many other leading business groups by suggesting a premature interest rate hike could derail the economic recovery. According to the latest Business Trends report, BDO said a rise in interest rates would strengthen the pound and therefore, reduce export competitiveness, having a negative impact on manufacturing. The manufacturing sector, which accounts for around 13% of economic output, ...




March 1, 2011

Chinese manufacturing eases in February

by Kay Mitchell
Chinese manufacturing eases in February
Manufacturing activity in China eased in February, two separate surveys have revealed today. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) dipped to 52.2 in February from January’s 52.9. According to the CFLP, this was the third consecutive month in which activity fell. However, the index remains above the crucial 50 level, which indicates expansion and it ...




February 1, 2011

Chinese manufacturing remains strong in January

by Kay Mitchell
”Chinese
Manufacturing activity in China remained strong in January, two separate surveys have revealed. Firstly, the official China Federation of Logistics and Purchasing (CFLP) said its purchasing managers index (PMI) dipped to 52.9 in January, from 53.9 the previous month. Secondly, the HSBC China Manufacturing PMI edged higher to 54.5 in January, from 54.4 in December. Both indices remain above the crucial 50 level, ...




December 7, 2010

Australia leaves interest rates on hold

by Kay Mitchell
’Australia
The Reserve Bank of Australia (RBA) has today elected to keep interest rates on hold at 4.75% - a move which was widely expected. Australia was the first economy to raise rates from a 50-year low as the economic downturn eased. Other major economies opted for lower interest rates to boost their economies. The country is one of the few developed ...




October 7, 2010

UK interest rates and QE remain on hold

by Kay Mitchell
’UK
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% – where they have been since March 2009. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced to stimulate growth within the economy. Both ...




October 6, 2010

BoE expected to keep interest rates on hold tomorrow

by Kay Mitchell
’BoE
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 20th consecutive month. Many economists expect no movement on interest rates until early 2011. However, in terms of quantitative easing programme (QE), Bank of England policymakers, Adam Posen and Martin Weale, have recently ...




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