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To: Baton who wrote (616)	4/28/2004 11:07:09 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 1338

All of the precious & industrial metals getting creamed today as China tries to slow their growth. China's Central Bank Says Curbs Are Slowing Growth (Update2) April 28 (Bloomberg) -- China's efforts to cool expansion in its steel, cement and other heavy industries are working, a central bank official said, suggesting interest rates may remain where they are unless inflation gathers pace. ``All the measures we have taken have been quite effective,'' Wu Xiaoling, vice governor of the People's Bank of China, said yesterday in an interview in Beijing. Wu, 57, said growth in Asia's second-largest economy will slow to less than 8 percent this year from a six-year high of 9.1 percent in 2003. She appealed to banks for ``cooperation'' in curbing credit. Chinese government bond yields have risen this year as investors bet the central bank will be forced to raise rates to slow an economy fueled by a 43 percent surge in fixed-asset investment in the past quarter. The government is reluctant to lift borrowing costs because it wants consumer spending to play a greater role in driving growth, according to economists including Jun Ma. quote.bloomberg.com