A senior Chinese official has criticized United States, saying that low interest rates in the US are causing speculation in asset markets around the world, which may put global economic recovery at risk.

Liu Mingkang, Chairman of the China Banking Regulatory Commission, said that plunging US dollar is posing threat to global asset markets, particularly for emerging economies.

Speaking on the issue, Zhao Qingming, an analyst at China Construction Bank Corp., said, “China has huge amount of investments in dollar assets; their safety is threatened.”

The dollar slipped against the yen for the third week in a row, shedding 0.2 per cent to 89.66.

It may be noted here that the US has recently promised to keep it key interest rates at current low.