A leading increase in interest rates of the Chinese central bank has brought the euro on Tuesday under strong tribute pressure to the dollar. Besides, in the day low-pressure area he fell up to 1.3791 USD, also by the end of the European stamped foreign currency business the communal currency took down only scarcely about the brand of 1.38 USD. Besides to registered raw material currencies like the Australian dollar of clear exchange rate losses to the Greenback.
The market was fixed on the expected recent monetary amount expansion by the US central bank and then there comes out of a clear sky this monetary-political rationalisation. This has off all of a sudden to a retreat of the investors as more hazardously approximated assets controlled. For the first time since December, 2007 her monetary policy has tightened the People’s bank of China (PBoC) again. From Wednesday the leading interest rises by 25 base points. With it the one-year-old lending sentence lies with 5.56% (before: 5.31%), the suitable insert sentence with 2.50% (before: 2.25%).
Reason for the increase in interest rates is according to observers the high inflation pressure in the country as well as the fear of a wave of heavy selling in some economic sectors of China. Between September and December, 2008 had lowered the PBoC her leading interest several times to prevent a burglary of the economic activity in the course of the global financial crisis and economic crisis.
Chart the euro to the Greenback in the afternoon already has the support about 1.3785 USD tested, under it the next stronger support already lies at the level of 1.3560 USD.
Also in the golden price did not pass the monetary-political decision of the Chinese central bank and the risen exchange rate of the dollar without a trace. The fine ounce gold cost by the London afternoon Fixing only 1,339.00 USD, in the morning it was ascertained there still with 1,367.75 USD.
The lowering of interest rates in China was perceived in the markets as a drum beat and has put under pressure the euro. The Chinese central bank had raised the leading interest easily to 0.25 points on the Tuesday noon and with it had got financial markets like experts on the wrong foot. Obviously meets the central bank with the increase in interest rates, primarily, inflation dangers. At last the price increase lay in China with 3.5 percent clearly higher than in many other big national economies – also a result of the strong growth of China.
New data to growth and inflation are published in China on Thursday. Now the data of the central bank would already possibly have been given, it was presumed in the markets. In spite of his welcomed expert the tauter monetary policy. The central bank shows with the fact that it puts away a strong weight for the stability of the home industry. Till the end it was warned over and over again about prize bubbles in the property markets of China, not least because of too low interest.