Frankfurt. Executive Board Member European Central Bank, Juergen Stark said monetary authorities would raise interest rates if needed to keep inflation.
"We are ready to act decisively and quickly if the increase is very necessary," Stark said in a ceremony in Frankfurt last night. According to him, central banks need new policies in keeping the inflation rate.
The concern, among others, the German government plans to reduce net debt of about 35 billion euros in fiscal year 2012. Germany also refused to give European rescue fund. Instead, in 2013 the government will buy bonds in the secondary market. According to Stark, so far the Irish became one of the most consuming countries of Europe and caused the financial crisis.
DAX Index lost 1.4% to 7,321.81. The Stoxx Europe 600 Index fell 1.3% to 287.18. The MSCI Asia-Pacific Index fell 1.9% to 137.02 as of 07:25 Frankfurt time. German bond yield with a tenor of 10 years to reach 3.182%. last, the euro above the level of parity is U.S. $ 1.359.
Showing posts with label interest rate. Show all posts
Showing posts with label interest rate. Show all posts
Tuesday, February 22, 2011
Tuesday, February 8, 2011
China increase benchmark interest rate 25 CPM
BEIJING. Surprisingly, China increase benchmark interest rate. This is the third increase since mid-October 2010. The reason, China's inflation continues to rise to a record during the last 30 months.
Benchmark rate for one-year lending increased 25 basis points (CPM) to 6.06% from 5.81%. One-year deposit rates also increased by 25 CPM to 3% from 2.75%. Through its website, China's central bank says interest rate changes are effective from tomorrow (9 / 2).
China joined India, Indonesia, Thailand and South Korea as the country recorded raise interest rates earlier this year. The policy was taken to prevent overheating economies in Asia are leading the recovery of the global crisis.
"Global markets higher interest rate is often used as a sign that the slowing growth in China is inevitable," said Dariusz Kowalczyk, Economist, Credit Agricole CIB in Hong Kong, today (8 / 2).
In trading in the spot market today (20:30), the yuan rose 0.1% to 6.5555 per U.S. dollar.
Benchmark rate for one-year lending increased 25 basis points (CPM) to 6.06% from 5.81%. One-year deposit rates also increased by 25 CPM to 3% from 2.75%. Through its website, China's central bank says interest rate changes are effective from tomorrow (9 / 2).
China joined India, Indonesia, Thailand and South Korea as the country recorded raise interest rates earlier this year. The policy was taken to prevent overheating economies in Asia are leading the recovery of the global crisis.
"Global markets higher interest rate is often used as a sign that the slowing growth in China is inevitable," said Dariusz Kowalczyk, Economist, Credit Agricole CIB in Hong Kong, today (8 / 2).
In trading in the spot market today (20:30), the yuan rose 0.1% to 6.5555 per U.S. dollar.
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