10-15-2009, 07:29 PM
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#22
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Hall of Fame Poster
Join Date: Aug 2006
Location: Boston
Posts: 25,169
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Re: Central Banks Buy More Euros/Yen Than Dollars Now
Quote:
Originally Posted by maverick4
I haven't read this and I follow this stuff. Please provide a link.
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China to increase supply of money to boost economy
Taking a page straight out of the Bernanke Deflation Fighting Playbook, China will increase supply of money to boost economy .
China said it plans to increase the amount of money circulating in its economy next year in a new effort to spur consumer spending and shield the country from a global downturn.
Saturday's announcement by the country's State Council, or Cabinet, comes on the heels of a multibillion-dollar economic stimulus package announced last month that calls for injecting more government money into the economy through spending on construction and other projects.
There are mounting signs that China's economic slowdown is sharper and deeper than expected. Exports fell in November for the first time in seven years and the industry minister warned Friday that worse was to come.
China will increase its money supply by 17 percent next year, the Cabinet said in a statement on its Web site. It said that would be 3 to 4 percentage points above the total growth of economic output and consumer prices.
http://www.marketoracle.co.uk/Article7778.html
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