The pressure on Chinese officials to raise rates has increased after a package of statistics published by the night, which showed that the economy is growing faster than forecast, at 9.8% yoy in the last quarter of 2010. Consumer spending continues to increase, while retail sales have added more than 19% by December from the beginning of the year. After adjusting for inflation 4.6% increase in sales of almost 15% over last year. Such high growth rates will no doubt inflate fears of inflation acceleration (the main problem of Chinese official). In the coming months, apparently, it will accelerate even more, possibly up to 6%, twice the government's benchmark of 3%. Asian assets were sold in a powerful response to this statistic, and the Shanghai index has lost almost 3%. Vysokobetovye currencies such as the South Korean won and Australian dollar also plummeted yesterday.
Translate this page
