Money Supply News
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China’s new local-currency loans exceeded estimates last month while money supply expanded at a faster pace, central bank data showed today.
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China’s stocks rose, capping a second week of gains for the benchmark index, as property companies climbed after Gemdale Corp. reported higher sales and Aluminum Corp. of China Ltd. announced an asset-sale plan.
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China’s consumer inflation stayed subdued in April while the decline in factory-gate price declines deepened, adding to evidence of softer demand and giving the government room to raise utility fees.
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The European Union’s failure to fix an oversupply of emissions permits that depressed prices in its carbon market doesn’t materially increase the vulnerability of Australia’s climate program, said Anthony Hobley, president of the Climate Markets & Investment Association and head of climate change at Norton Rose LLP in London.
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China’s export growth unexpectedly accelerated in April even as shipments to the U.S. and Europe fell, spurring Bank of America Corp. and Mizuho Securities Co. analysts to say the figures were inflated by fake reports.
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Copper rose in London after a report on growing exports and imports from China signaled increased demand for the metal from the world’s biggest buyer.
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When Zhang Youneng’s house was flattened by an earthquake last month, the Chinese factory worker had no choice but to travel 2,000 kilometers (1,240 miles) back home to help his wife deal with the aftermath.
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China’s overnight money-market rate declined to a two-week low on speculation that rising redemptions of central bank bills and repurchase agreements will increase cash supply.
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The surge in demand for dollars in Argentina that increased the black-market price to a record 10 pesos per dollar is causing banks to ratchet up deposit rates as they try to lure back savers.
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The Philippines may further limit property loans to prevent a housing bubble as it uses lower interest rates rather than capital controls to deter inflows.
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