China Raises Rates to Slow Rapidly Growing Economy

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00009611-china-raises-rates-to-slow-rapidly-growin/

Taking a cue from its American counterpart, the Chinese central bank yesterday increased interest rates in an attempt to cool the nation?s white-hot economy, the Associated Press reported today.

China?s first quarter growth rate clocked in at 10.2%. Most of the growth came directly from bank lending. Inflationary fears ultimately led to the central bank?s move.

Read the entire story at China Raises Rates to Slow Rapidly Growing Economy.