China raised the reserve rate 3rd time of the year 0.5%
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this is 3rd time raised reserve rate, instead if raise main lending rate
This raise is for large banks
mid or small banks in countryside, etc, remains 13.5% unchanged since 12/05/2008
on 2/12 raised from 16% to 16.5%, ssec down -.49%
on 1/12 raised from 15.5% to 16%, ssec down -3.09%
before that is 12/25/2008 reduce rate from 16% to 15.5%, ssec down -0.05%
so reserve rate was from Dec 2008's 15.5% to to 16.5% now, still the purpose is to cool down housing mkt.
