Surprise Interest Rate Move by China Roils Markets
By DAVID BARBOZA
BEIJING — China’s central bank unexpectedly announced Tuesday that it would raise interest rates for the first time in nearly three years, apparently in the hopes of dampening inf
“This move is symbolically huge, as it is the first rate hike for this cycle,” Dong Tao, a Hong Kong based economist at Credit Suisse wrote in an e-mail after the decision late Tuesday.