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.
$ y' {/ {2 a7 g; T$ W$ { 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., K# b: M- t9 \: q6 p* A
The statement came one day after the 25-basis-point interest rate hikes went into effect on Sunday.
+ j, j+ V s( n) }7 M/ J 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.
' Y4 q* W4 G; Z/ }0 A, ^) T 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."* }) J! u& C$ n6 b' W
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.- _& F* e( c" O5 _$ [3 N, l, I
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.. l8 d( W6 D1 P8 p0 t% X5 n
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
