国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Money

Rate hike 'aims to help tame inflation'

By Wang Xiaotian (China Daily)
Updated: 2011-02-09 09:19
Large Medium Small

Excess liquidity also behind move, more increases expected this year

BEIJING - The central bank on Tuesday raised interest rates for the third time since mid-October by another 25 basis points, to help mop up liquidity and tame surging inflation.

Effective on Wednesday, the benchmark one-year lending rate will increase to 6.06 percent from 5.81 percent, and the one-year deposit rate will rise to 3 percent from 2.75 percent, the People's Bank of China (PBOC) said in an announcement on its website.

Rate hike 'aims to help tame inflation'

The tightening measure was announced right at the end of the Spring Festival holidays and one day before the markets open.

Lu Zhengwei, chief economist at Industrial Bank, said the move had been predicted as China maintains strong growth momentum, and the consumer price index (CPI), a major gauge of inflation, was expected to hit a record high in January.

The CPI rose 4.6 percent in December after jumping to a 28-month high of 5.1 percent in November.

The figure for January has yet to be disclosed.

The world's second-largest economy saw its growth expand by 9.8 percent in the fourth quarter of last year, compared to 9.6 percent in the third quarter.

"The risk of rising inflation cannot be neglected because major economies are expected to shore up their growth by maintaining an easy monetary stance. As a result, a large amount of capital flows into emerging economies," the PBOC said in a report published on Jan 30.

It added that rising costs for labor and resources also contribute to inflation.

Du Zhengzheng, a macro-economist at Bohai Securities, predicted that inflation will rise by 4 percent year-on-year in the first half of 2011, after surging to 5.2 percent in January.

"The pressure of increasing inflation has forced the PBOC to take action."

He said the central bank will not raise interest rates again during the first quarter, but may again hike the reserve requirement ratio for banks.

Dong Xian'an, chief economist at Industrial Securities, said there is still room to increase interest rates by 50 basis points throughout the year.

Related readings:
Rate hike 'aims to help tame inflation' China hikes interest rates to damp inflation
Rate hike 'aims to help tame inflation' Renminbi not undervalued as real exchange rate increases: UN expert
Rate hike 'aims to help tame inflation' China's CPI up 4.6% in December 2010
Rate hike 'aims to help tame inflation' China's high inflation rate may last until Q3: survey

China has been facing the challenge of excessive liquidity since late 2008, when the government initiated stimulus measures worth $586 billion and adopted a "moderately loose" monetary policy to propel an economy battered by the global financial crisis.

In 2010, new yuan loans reached 7.95 trillion yuan ($1.21 trillion), exceeding the government's target of 7.5 trillion yuan, while inflation jumped 3.3 percent year-on-year, exceeding the officially set ceiling of 3 percent.

In a December survey by the central bank, 74 percent of respondents said they were dissatisfied with rising inflation.

To combat inflation, China raised the reserve requirement ratio for banks six times and increased interest rates twice in 2010. The reserve ratio was again raised on Jan 14.

To curb inflation and control financial risks, the central bank announced earlier that it had set the growth rate target for M2, the broad measure of money supply that covers cash in circulation and all deposits, at 16 percent for 2011.

M2 rose by 19.7 percent in 2010 over the previous year, exceeding the officially set target of 17 percent, according to the central bank on Jan 11.

The PBOC also vowed to strengthen control over yuan lending, corporate debt and equity financing, to combat inflation.

分享按鈕
定远县| 鄂伦春自治旗| 昭通市| 长宁县| 博兴县| 新宁县| 寿宁县| 灵丘县| 壤塘县| 郑州市| 天津市| 通城县| 新巴尔虎左旗| 岳普湖县| 尼勒克县| 汤阴县| 平定县| 龙州县| 襄垣县| 雅安市| 定州市| 浠水县| 银川市| 绥芬河市| 雷山县| 迁西县| 寿光市| 毕节市| 沽源县| 临海市| 南溪县| 库尔勒市| 阜宁县| 饶平县| 陕西省| 磐安县| 涟源市| 六盘水市| 维西| 吉林市| 闵行区|