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.
P! |5 g' l2 f; i" _6 c 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.8 q" Z6 u& b: k+ n
The statement came one day after the 25-basis-point interest rate hikes went into effect on Sunday.0 I* ^8 p5 A& t5 U* q
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.
9 B9 h) ~& R4 G. n# ]$ j 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."" V, Y' [. S' 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.
; C- E- I1 `7 a6 ~: N 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.: N" a* G- Z# U
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
