Houston Community News >>
12/11/2010 BEIJING-- Chinese inflation soared past
forecasts to a 28-month high in November and showed signs of spreading
beyond food prices, putting pressure on the government to ratchet up its
monetary tightening.
A day before the data, China’s central bank raised lenders’ reserve requirements for the third time in a month to sop up some of the excess cash in the economy that is driving prices higher. With inflation on the march, analysts said that more resolute action was needed.
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A day before the data, China’s central bank raised lenders’ reserve requirements for the third time in a month to sop up some of the excess cash in the economy that is driving prices higher. With inflation on the march, analysts said that more resolute action was needed.
Read More
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