China’s cooling property market ‘a challenge’ to growth objectives

chinacity

The cooling property market in China could threaten the country's growth targets, the Reserve Bank of Australia (RBA) said today – a view shared by two economists at the Federal Reserve Bank of Dallas who believe the future of housing "may not be as rosy as many Chinese believe".

Glenn Stevens, the RBA governor, said that growth in the global economy was continuing "at a moderate pace", as he announced the central bank's decision to hold its cash rate at 2.5%.

Singling out China, he noted its gr

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