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.
6 f0 J; h5 i+ d; o 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.) _$ [/ o0 T; i6 ^
The statement came one day after the 25-basis-point interest rate hikes went into effect on Sunday.5 Q6 G" C, `6 q$ s0 x
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.
6 l7 T$ u+ [( W6 Y 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."6 K' I2 E3 J5 C' X1 y& G
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.
4 |+ ?/ c: R$ P5 E- d3 G 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.
. o2 I1 c# I d! M; n: Q 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
