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[Tin] PboC vừa mới tăng lãi suất cơ bản lên thêm 0.25% nữa để chống lạm phát, Deposit rate at 3.25 per cent and the one-year lending rate at 6.31 per cent (Requirement Reserves đã tăng lên 20% đối với các NHTM lớn từ giữa tháng 3 vừa rồi):

Raising reserve requirements can be an attractive tool because they dampen the supply of credit domestically without encouraging inflationary capital inflows. Raising rates can lead to destabilising capital inflows as international investors seek the highest available returns. Governor Zhou said recently, however, that capital inflows should not reduce the case for using interest rates as a policy tool

Chinese officials may be on guard against increased inflows of “hot money,” or speculative capital, as today’s move widens the differential with rates in developed economies. In the U.S., the Federal Reserve has kept its benchmark near zero since December 2008.

And now: FOMC minutes: No taper, no rate rise in 2011 (FT)

Emerging Trend in Renminbi-Denominated Debt (Morningstar) – Bùng nổ phát hành TP đồng Nhân dân tệ!!! Những công ty lớn như Unilever (có mặt ở VN), McDonald’s, HSBC, UBS, Barclays vẫn đã và đang phát hành TP bằng đồng CNY.

There is a voracious demand for bonds issued in Chinese currency in Hong Kong, and we suspect additional firms are evaluating, and will issue, renminbi-denominated bonds.