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English definition of “hard landing”

hard landing

noun [C]     ECONOMICS, FINANCE
a sudden, big decrease in economic activity and in the money available for loans following a period of economic growth. A hard landing is usually the result of a central bank raising interest rates too much in an attempt to control inflation: A hard landing for the US economy could send shock-waves through the global financial system.
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(Definition of hard landing noun from the Cambridge Business English Dictionary © Cambridge University Press)
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