Is this crunch time for the credit crunch?

目前是此次信贷危机的危急时刻吗？

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And as central Banks elsewhere worry about a credit crunch, China's central bank this week raised interest rates for the fourth time this year.

当其他地方的中央银行担心信用紧缩时，中国的中央银行本周增加了利率，这是今年第四次加息。

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When the Fed cut its discount rate on August 17th, it admitted for the first time that the credit crunch could hurt the economy.

当8月17号贴现率下调，联储第一次确认信贷紧缩有可能危及美国经济。

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Second the credit crunch had started to hit home and for the first time in more than a hundred years, there had been a run on a British bank with the extraordinary sight of queues of savers lining up outside branches of Northern Rock to extract their cash.

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For if workers see their real wages fall at the same time as the credit crunch is constraining their ability to borrow, consumer demand will suffer.

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