Interest Rates November 2007

• The People’s Bank of China increased its one-year yuan lending rate 0.17 percent to 7.29 percent in September.
  
  
• The Norges Bank of Norway raised its deposit rate 0.25 percent to 5 percent in late September. The bank has raised rates 25 basis points 12 times since November 2005.
  
  
• The South African Reserve Bank boosted its repurchase rate 0.5 percent in October to 10.5 percent. The increase is the third 50-basis-point increase since June and the seventh since June 2006.
  
  
• The Central Bank of Turkey dropped its overnight borrowing rate 0.5 percent in October to 16.75 percent. The reduction is the second in as many months, and it follows a period of inactivity that stretches back to July 2006.
  
  
• The National Bank of Hungary dropped its two week deposit rate 0.25 percent in September to 7.5 percent, the second decline in four months after a five month tightening period in mid- to late-2006.
  
  
• The Central Bank of the Philippines dropped its overnight borrowing rate 0.25 percent in October to 5.75 percent. The drop comes three months after a huge 1.5-percent reduction, which was the first move in the rate since October 2005.