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Times of the Internet (Free subscription) | 09/10/2008
BEIJING, Oct. 9 (UPI) -- China's central bank, falling in line with central banks of major economies, has cut both the interest rate and the cash reserve ratio for its commercial banks. The People's Bank of China announced the deposit and lending rates would be cut by 0.27 percent point and the reserve ratio by 0.5 percent point effective next Wednesday, Xinhua reported. The move is designed to boost...
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Dollars & Sense blog (Free subscription) | 09/10/2008
This posting is from D&S collective member and frequent blogger Larry Peterson. To see more of his posts, click here. The race is on. And it's going to be a short, but intense race. Central banks throughout the world (including the People's Bank of China) implemented co-ordinated interest-rate hikes today, while huge swathes of banking systems in a number of key countries have been reinforced with...
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Maverecon (Free subscription) | 08/10/2008
Today, the US Federal Reserve, the European Central Bank, the Bank of England, the Bank of Canada, the Swedish Riksbank, the National Bank of Switzerland and the monetary authority of the United Arab Emirates all cut their official policy rates by 50 basis points. The People’s Bank of China cut its one-year benchmark lending and [...]
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China Digital Times (Free subscription) | 08/10/2008
An interview conducted by The 21st Century Business Herald with Wang Zili, the President of the Training Institute under the People's Bank of China, discusses the implications of the US credit crisis. The Beijing Review reports: While many believe that the US Financial Crisis has peaked, Wang feels the ...
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Market Watch (Free subscription) | 06/10/2008
The People’s Bank of China will reportedly restart a program allowing domestic companies to issue medium-term notes, allowing them to raise money more cheaply.
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People Daily (Free subscription) | 27/09/2008
The People's Bank of China punished 12 financial institutions involved in money laundering in the first half of this year with fines totaling 2.25 million yuan (328,654 U.S. dollars), the central bank revealed late Friday. "We have checked a total of 1,084 financial organizations, which include 907 banking institutions, 71 securities and futures institutions and 106 insurance institutions," said head...
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Rock Netroots (Free subscription) | 22/09/2008
The Walworth County AARP is hosting a forum of candidates for State Assembly seats including First Congressional District Candidates on Tuesday (Sept. 23) morning. Event location PEOPLE'S BANK (Community Room) 837 N Wisconsin St. Elkhorn, WI 53121 Start time 9:30 AM End time 11:30 AM The following list of candidates have been invited to appear. 1st Congressional District Rep. Paul Ryan (R) incumbent...
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Alibaba Weblog (Free subscription) | 20/09/2008
Amid the weakening global economy, which will ostenibly slow down China’s export, the People’s Bank of China last week cut the cost of bank loans and reduced the reserve requirement ratio for smaller financial institutions. In what was seen as a move to help SME hit hard by a tighter credit crunch, the central bank announced a 27-basis point cut to [...]
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People Daily (Free subscription) | 20/09/2008
China should further upgrade its rural financial service system to bolster economic development in such areas and improve the lives of farmers, said a People's Bank of China report released late on Friday. The central bank's "China rural financial service report" suggested the government provide more low-cost financial services in rural areas, improve the credit-risk management mechanism and encourage...
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China Digital Times (Free subscription) | 20/09/2008
In such a time of global financial instability, why might the People’s Bank of China, for the first time in six years, decreased its benchmark lending rate by 27 basis points to 7.2%? In addition to the more immediate steps the Chinese government is taking to crutch the domestic stock market, ...
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HorsesAss.Org (Free subscription) | 18/09/2008
Free market! Goldman Sachs, which Washington Mutual has hired, started the process several days ago, these people said. Among the potential bidders that Goldman has talked to are Wells Fargo, JPMorgan Chase and HSBC. But no buyers may materialize. That could force the government to place Washington Mutual into conservatorship, like IndyMac, or find a bridge-bank solution, which was extended to thrifts...
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People Daily (Free subscription) | 17/09/2008
The government's latest move to cut both the benchmark lending rate and the reserve requirement ratio for smaller banks is widely seen as a bid to help SMEs hit hard by a tighter credit regime. The People's Bank of China on Monday announced a 27-basis-point cut to the commercial banks' benchmark lending rate from yesterday. The deposit rate will remain unchanged. It was the first time the central bank...
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Globe and Mail (Free subscription) | 16/09/2008
China cut interest rates for the first time in six years and allowed most banks to set aside smaller reserves as worsening credit market turmoil and weakening export demand dimmed the outlook for economic growth. The People's Bank of China reduced the one-year lending rate to 7.20 per cent from 7.47 per cent, effective today, and lowered the reserve ratio at the nation's smaller banks by one percentage...
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Money Morning (Free subscription) | 16/09/2008
By Jason Simpkins Associate Editor Central banks around the world, including the European Central Bank (ECB), the Bank of England (BOE) and the People’s Bank of China, scrambled yesterday... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first.
