Saturday, February 19, 2011

Advice from 2nd biggest economy

China central bank adviser calls for interest rate hikes

"China needs to increase interest rates because real rates remain in negative territory, a central bank adviser said on Saturday. "It's not right to keep real interest rates in negative territory for a long time," Xia Bin, an academic member of the People's Bank of China's monetary policy committee, told reporters on the sidelines of a financial forum in Beijing". "Xia's comments come the day after China's decision to raise lenders' required reserves by 50 basis points, effective February 24, its second increase this year".

Posted by alan @ 02:08 PM (1353 views)
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