BEIJING -- The People's Bank of China (PBOC), the country's central bank, reaffirmed Monday that it would give more prominence to stabilizing prices, and implementing a prudent monetary policy during the next year.
5 f p& e v1 J& `, @ Further, China will make its monetary policies more targeted, flexible, and effective, employing multiple monetary tools to control liquidity and guide the credit growth back to a normal level, said an online statement summarizing a meeting of the PBOC's monetary policy committee.
. t4 Q9 y5 `( m: s The statement came one day after the 25-basis-point interest rate hikes went into effect on Sunday. ?$ w- O' \: K
More credit should be channeled into the real economy, especially into programs concerning agriculture, the countryside, farmers, and medium-sized and small enterprises, to help promote the strategic and economic restructuring, the statement said.
0 W3 s1 j% E. u- k- I$ E Those attending the meeting also agreed to further improve the yuan exchange rate formative mechanism, and to keep the yuan exchange rate "basically stable at a reasonable level.". Q7 ]" |4 I1 |3 q4 q. W. E, @
An upward momentum in China's economy has been further consolidated, but the country also faces tough tasks in controlling credit and liquidity growth as well as warding off financial risks.
' o! P+ U( `5 d, ?) b# \ China's consumer price index (CPI), a main gauge of inflation, accelerated to a 28-month high in November of 5.1 percent, while new loans reached 7.45 trillion yuan (about US$1.11 trillion) in the first 11 months of this year, compared to the government's full-year target of 7.5 trillion yuan.
2 N- x4 x) r# v; C; p y/ U! M2 d The PBOC announced Saturday that it would raise the one-year lending and deposit interest rates for the second time this year, in an effort to fight rising inflationary pressures |
发表于 2012-8-16 08:12:37
