Luxury Real Estate News 11/01
January 20, 2010 by admin
Filed under Luxury Houses For Sale
Is China following in Dubai’s footsteps?
The Chinese central bank surprised the markets last week by raising the interest rate slightly on its three-month bills from 1.3280% to 1.3684%. This is the first rate increase since August and signaled an effort by Beijing to reduce asset-price inflation after a record surge in credit. The news, sparking fears in markets that the central bank may hike benchmark interest rates, sent the Shanghai Composite Index down almost 2% in one day. Some Asian and European markets also felt the impact. Emerginvest
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