China Raises Interest Rates 12/27/2010 – Futures trading, news, broker

By Angela Moon
NEW YORK, Dec 27 (Reuters) – Wall Street was set for a
lower open on Monday as shares fell globally following a
surprise interest rate increase from China’s central bank.
China’s central bank raised interest rates on Saturday for
the second time in just over two months as it stepped up its
battle to rein in stubbornly high inflation. The People’s Bank
of China said it will raise the benchmark lending rate by 25
basis points to 5.81 percent and lift the benchmark deposit
rate by 25 basis points to 2.75 percent.