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27 June 2017 00:22 (South Africa)

China hikes interest rates

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

China announced on Thursday that it will raise its interest rates - for the first time in three years. Deposit rates will be set at 2.5%, and lending rates at 5.56%, an increase of 25 basis points in both cases. Economists were surprised by the move, but suggest it was in response to strong gross domestic product and consumer price index figures released earlier in the day. Read more: Reuters

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

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