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2008-10-09 09:00:33

Xinhua Asia-Pacific news summary at 0600 GMT, Oct. 8 HONG KONG -- The Hong Kong Monetary Authority announced on Wednesday that it is to adjust the methodology for determining the base rate starting from Thursday, which will amount to a base rate cut by 100 basis points.


Word of the Day
pawl
  • A pivoted catch designed to fall into a notch on a ratchet wheel so as to allow movement in only one direction (e.g. on a windlass or in a clock mechanism), or alternatively to move the wheel in one direction.
The word 'pawl' probably comes from a Latin word meaning 'stake'.
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