hat Does the Rise in RMB Interest Rates Signify？

• 作者: SUIJIANXIONG LIWUZHOU
• 来源期刊: 今日中国：英文版
• 学科: 经济
• 关键词: 中国 人民币汇率 人民升值 世界经济
• 年，卷（期）: 2005,（1）
• 页码范围: 24-25
• 页数: 2页
• 分类号: F832.63

摘要

ON October 28, 2004,the People's Bank ofChina took a U-turn and, after almost a decade of reductions, announced a 0.27 percent increase in RMB interest rates. This superficially inconsequential rise caused quite a stir on the international market. Mining stock plummeted,as did the prices of metals and crude oil futures. This reflexive investor response is just one indication that the Chinese economy has become a major driving force for global economic growth. Its huge demand has sustained high prices for oil and other staple commodities on the international market, international speculators itch to pour their hot money into China, and overseas investors too see it as a potential Klondike.