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News Link • China

China rate cut raises fears of grim May economic data

• Reuters

Global cheers over China's decision to cut interest rates could fade to stony silence if, as some economists fear, the move signals that some grim economic data are about to be released.

China's surprise rate cut unveiled on Thursday has boosted hopes that cheaper credit will help combat its faltering economic growth and has encouraged global share markets in their belief that the major economies are stepping up stimulus.

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