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Q: China Interest Rates ( Answered 5 out of 5 stars,   1 Comment )
Subject: China Interest Rates
Category: Business and Money
Asked by: stemjas45-ga
List Price: $10.00
Posted: 09 Sep 2006 09:50 PDT
Expires: 09 Oct 2006 09:50 PDT
Question ID: 763668
Why does the People's Bank of China raise interest rates by 27 basis
points, instead of a normal figure such as 25 basis points?

Request for Question Clarification by pinkfreud-ga on 09 Sep 2006 11:32 PDT
Does this article provide a fully satisfactory answer?

Clarification of Question by stemjas45-ga on 09 Sep 2006 14:14 PDT
Thats perfect, thanks so much for the help...
Subject: Re: China Interest Rates
Answered By: pinkfreud-ga on 10 Sep 2006 12:24 PDT
Rated:5 out of 5 stars
I'm glad I was able to find a good answer for you, since I had
wondered about this, too. I have reposted the link below, with another
link that I hope you'll find to be of interest.

People's Daily Online: Abacus holds answer to odd rate rises

Hong Kong Trade Development Council: The "Divisible by Nine" Rule

My Google search strategy:

Google Web Search: "people's bank of china" 27 points
Best regards,
stemjas45-ga rated this answer:5 out of 5 stars

Subject: Re: China Interest Rates
From: denco-ga on 09 Sep 2006 11:22 PDT
Howdy stemjas45-ga,

I have more than a passing knowledge of how the Chinese do things, and
even though I doubt the People's Bank of China would ever admit it, I
suspect that it is because 27 would be considered a lucky number when it
comes to financial matters.

More feng shui than anything else, the number 3 is associated with wealth
(3 legged money frogs, 3 coins, etc.) and 27 is 3 threes (3x3x3)!

The Chinese are somewhat pragmatic, so if they could do something that
would be perceived to be lucky when it comes to money, such as using the
number 27 instead of the number 25, they just might do it.

Looking Forward, denco-ga - Google Answers Researcher

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