[obrolan-bandar] Tingkat suku bunga di Tiongkok dinaikkan lagi

Sat, 19 Aug 2006 01:15:53 -0700

Apa dampak kenaikan suku bunga di TIongkok buat kita? Barang disana akan jadi lebih mahal krn cost of money naik.
Kemudian barang ekspor mereka menjadi lebih mahal. Ditambah lagi apresiasi yuan terus berlangsung.

Rabat pajak ekspor dikurangi dari 13% menjadi 0% - 5% kembali eksportir Tiongkok melihat margin nya makin kecil.

Kita salah satu pemakai barang Tiongkok yg besar jadi kita akan membayar lebih tinggi (mahal) barang barang buatan mereka, inflasi akan merambat naik juga dikita.

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CHINA / National
China raises interest rates by 0.27%
(Reuters)
Updated: 2006-08-18 18:47
BEIJING - China raised rates on Friday for the second time in four months in the latest effort to slow a boom in credit and investment that risks destabilising the world's fourth-largest economy.
The People's Bank of China, the central bank, said on its Web site (www.pbc.gov.cn) that it had ordered an increase of 0.27 percentage point in commercial banks' benchmark one-year deposit and lending rates.
,,interest rates
A customer checks hundred Yuan bank notes at an ATM in Beijing in this July 21, 2005 file photo. China raised rates on Friday for the second time in four months in the latest effort to slow a boom in credit and investment that risks destabilising the world's fourth-largest economy. [Reuters]
The one-year deposit rate is now 2.52 percent and the one-year lending rate stands at 6.12 percent.
The PBOC raised lending rates by the same margin on April 27 but kept deposit rates unchanged.
"To consolidate the achievements in macro-economic control, it's necessary to use interest rates as a lever to curb investment and demand for credit while mopping up liquidity," the central bank said.
As is often the case in China, the tightening caught many in the markets off guard.
After tentative signs of slower investment and output growth in July, many economists had expected the central bank to hold fire even though money supply and credit are growing well above target.
"The rate increase is a surprise," said Shahab Jalinoos, a senior currency strategist with ABN AMRO in Singapore.
"It is difficult to say what impact it will have on the spot currency market, but globally it will be seen as another example of liquidity removal," he said.
Japan, the European Central Bank and Australia are among major central banks that have raised borrowing costs lately, although the Federal Reserve has paused after a two-year campaign of rate rises.
Since April, the Chinese central bank has also increased the proportion of deposits banks must hold in reserve, instructed banks to curb lending to specific sectors and sucked more money out of the banking system through open market operations.
Government ministries have weighed in with strict orders to local authorities to rein in capital spending. Three senior officials in Inner Mongolia were punished this week for flouting Beijing's orders.
Powered by investment and exports, annual gross domestic product growth quickened to 11.3 percent in the second quarter, the fastest pace in a decade, from 10.3 percent in the first three months.
By increasing yields on the yuan the rate rise will encourage companies and individuals to get round the country's currency controls and bring more money into China.
To Zhong Wei, an economist at Beijing Normal University, this is a strong pointer that the authorities are willing to allow a faster rate of climb in the yuan, which has been allowed to rise just 1.7 percent since it was depegged from the dollar in July 2005.
"The rate move indicates that the pace of the yuan's appreciation will significantly accelerate this year," he said.
But Richard McGuire, a strategist at RBC Capital Markets, disagreed: "A change in interest rates in China is a signal that it's unwilling to change its forex policy."
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