US survey says China will not raise interest rates this year

Global network reporter Tanlia September 15 reported that China's August CPI increase of 3.5% to 22-month high, immediately after the announcement of a large number of China will raise interest rates in the near future speculation, the United States Pembo to launch a survey that the rise in China's inflation rate is mainly because of food prices rather than credit causes,　　So China will not raise interest rates until 2011. U.S. Bloomberg September 15 reported that China's accelerating inflation may not allow policymakers to raise interest rates this year, as the factor contributing to higher prices is increased food costs rather than a surge in credit lending.　　After China released its economic data on 11th, the Bloomberg News survey of 19 economists found that China's one-year benchmark interest rate on renminbi loans would remain at 5.31% and deposit rates would remain at 2.25% per cent, with China expected to raise interest rates in the first half of 2011. "Interest rate changes will not bring more good luck to the market and food prices are the most important factor," said Tom Orlic, a beijing-based economist at Stone & McCarthy Research Associates, a New Jersey study firm.　　The report said China could wait for an increase in interest rates after the international economic recovery intensified. In addition, the survey also showed that the renminbi will rise by about 1.4% against the dollar, to 6.65 yuan.