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RMB interest rate begins to cool off
www.chinanews.cn 2005-02-24 15:07:10
According to a report released by the National Bureau of Statistics (NBS)
on Feb.22, China's consumer price index (CPI) increased 1.9% in January,
over the previous year. But the CPI growth rate has been in decline for
five consecutive months. Because the growth rate of the CPI dropped to
1.9%, lower than the 2.25% interest rate for a one-year bank deposit,
China has ended thirteen months of negative interest. This suggests that
the Central Bank will not raise interest rates.
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