China Hikes Interest Rates Again to Curb Inflation
BonTradeMarket sentiment was hurt as China announced to increase interest rates today. Shares in Europe slipped amid concerns that monetary tightening would tamper growth in China. Oil price reversed earlier gains on demand worries. The front-month contract for WTI crude oil initially climbed higher to 97.79 but then retreated to 96 after the news. The equivalent Brent crude contract also pulled back to 111.9/112.2 from yesterday's close of 113.61. Gold remained firm with the benchmark contract soaring for a second consecutive and approaching 1520.
Excerpt from:
China Hikes Interest Rates Again to Curb Inflation
