Beijing on December 27 night, according to foreign reports, by the People's Bank of China to raise interest rates to stimulate an accident, crude oil prices rose to 26-month high on Monday, and other commodity prices also lost ground on expectations that the basic energy needs for the good, and concerns about insufficient supply.
The evening of 25 December the People's Bank hiked interest rates 0.25 PCT, for 2 months to 2 times increase interest rates in response to domestic inflationary pressures. Mainland November CPI index rose 5.1%, a record high of 28 months.
Although the market has already anticipated the People's Bank will raise interest rates, but this time the selection is still a surprise. However, commodity prices still decline from the earlier to recover, because the market believes interest rates on China's industrial raw materials, energy, grains and other agricultural products have little effect. (Bamboo)