Wednesday, Nov 14, 2007
Time to start growing piggies!
BBC: China inflation up on food costs
The Chinese government said the latest inflation figures were largely explained by higher food prices - particularly for pork, a key Chinese ingredient, which climbed by nearly 55%.
"We believe the central bank will likely respond with tightening measures including strict controls on bank lending two more rate hikes before the end of the year" said Yu Song, an economist at Goldman Sachs.
Posted by tyrellcorporation @ 02:26 PM (276 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Planning4acrash said...
Food prices increased by 17.6% in October.
Sounds like meltdown to me. This can only be averted now with punative interest rates a soaring Yuan (loss of the dollar peg) and a recession (or next to 0, or close to European level growth). Just what the USA is after, they may cut rates again to put yet more pressure on the Yuan, because as soon as the dollar goes down, the Chinese must sell more Yuan and buy more dollar and euro, etc reserves to deflate the Yuan to keep the dollar peg (pushing up imported inflation). Seems like Bernake's trade war (The French PM is right that the falling dollar is a trade war) is working a treat.