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China holds fire on rates, posts 'shockingly weak' activity growth

Reuters  |  BEIJING 

By Kevin Yao and Fang ChengBEIJING (Reuters) - China's economy is finally starting to cool under the weight of a multi-year crackdown on riskier lending that is pushing up borrowing costs for companies and consumers, with data on Thursday pointing to a broad slowdown in activity in May.China's central bank sparked concerns over the health of the economy earlier in the day when it left short-term interest rates unchanged, surprising markets which had expected it to follow a hike by the Federal Reserve, as it has tended to do.Industrial output, investment and retail sales all grew less than ...

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First Published: Thu, June 14 2018. 12:04 IST