IPFS News Link • China
China raises rates to battle stubbornly high inflation
• ReutersChina raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fast-expanding economy against stubbornly high inflation that threatens to unsettle global markets.
The timing was a surprise, coming on the final day of China's Lunar New Year holiday, but investors have long expected more monetary tightening as Beijing struggles to rein in price pressures and ward off a property bubble in an economy that grew at a double-digit pace last year.
2 Comments in Response to China raises rates to battle stubbornly high inflation
Though I do not appreciate the self-serving games that international banking is playing with all the world's currencies, I do applaud any effort to control prices and inflation. Well done China.
http://www.omaha.com/article/20110208/AP05/302089942