REAL WORLD EVENT DISCUSSIONS

China and inflation

POSTED BY: NIKI2
UPDATED: Sunday, December 12, 2010 09:21
SHORT URL:
VIEWED: 470
PAGE 1 of 1

Sunday, December 12, 2010 9:21 AM

NIKI2

Gettin' old, but still a hippie at heart...


Ooops, think they're taking a page from our book?
Quote:

Inflation in China has risen to a 28-month high, sparking warnings of new interest rate rises.

The inflation rate, measured by the consumer price index, rose 5.1% year-on-year in November, an increase that was above market expectations.

On Friday, China had reported much stronger than expected export growth in November, adding to inflation fears.

Inflation has in the past caused unrest in China, where poor families spend up to half their incomes on food.

The government has said it will take strong action against anyone found to be manipulating food prices.

It has taken a number of measures to try to tighten its monetary policy and boost the supply of key goods.

Beyond expectations

In October, the central bank announced the first interest rate rise in nearly three years and analysts say another may be needed.

Shen Jianguang, an economist with Mizuho Securities, told Reuters news agency: "At least one interest rate rise is needed for this year... if you see inflation but no rate hike, people will doubt the determination to fight inflation".

The 5.1% November rise was the biggest since June 2008, and follows a sharp hike on the October rate of 4.4%.

The government's full-year target is 3%.

NBS spokesman Sheng Laiyun told the AFP agency: "Price rises in November are beyond many people's expectations. It will take some time for the [anti-inflationary] policies to be implemented and show clear effects."

China implemented a $586bn stimulus package two years ago which many analysts believe was the catalyst for the inflation rises.

http://www.bbc.co.uk/news/business-11975628

Should we wish them luck? Or stand back and laugh?


Hippie Operative Nikovich Nikita Nicovna Talibani,
Contracted Agent of Veritas Oilspillus, code name “Nike”,
signing off





NOTIFY: Y   |  REPLY  |  REPLY WITH QUOTE  |  TOP  |  HOME  

YOUR OPTIONS

NEW POSTS TODAY

USERPOST DATE

OTHER TOPICS

DISCUSSIONS
In the garden, and RAIN!!! (2)
Sat, July 25, 2026 00:43 - 7869 posts
Music II
Sat, July 25, 2026 00:05 - 687 posts
Midterms 2026
Fri, July 24, 2026 23:38 - 452 posts
Science given the boot at White House
Fri, July 24, 2026 23:24 - 289 posts
Trump Is Destroying Everything He Touches
Fri, July 24, 2026 23:21 - 1331 posts
Russia Invades Ukraine. Again
Fri, July 24, 2026 19:38 - 10805 posts
Music takes the sting out of things...
Fri, July 24, 2026 16:48 - 22 posts
Convicted kosher billionaire makes pedophile Roman Polanski blush
Fri, July 24, 2026 15:32 - 48 posts
Khamenei, One of Most Evil People in History, is Dead
Fri, July 24, 2026 13:55 - 666 posts
Slave Owner Descendent Sunny Hostin Wants Reparations
Fri, July 24, 2026 12:44 - 1 posts
The Jews Are No Longer Safe in New York, They Should Leave
Fri, July 24, 2026 12:35 - 1 posts
Politico: Trump finalizes new tariffs on dozens of countries
Fri, July 24, 2026 12:27 - 1 posts

FFF.NET SOCIAL