久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

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
主站蜘蛛池模板: 国产精品欧美亚洲 | 亚洲精品二区 | 久久爽久久爽久久免费观看 | 成人永久免费视频网站在线观看 | 成人久久18免费网站 | 亚洲欧洲日产国码二区首页 | 夜夜躁狠狠躁日日躁2021 | 亚洲第一区视频在线观看 | 国产精品无打码在线播放9久 | 87精品福利视频在线观看 | 免费在线精品视频 | 日韩中文字幕在线观看 | 精品视频 九九九 | 美女毛片在线观看 | 深夜做爰性大片很黄很色视频 | 亚洲成a人在线播放www | 国产精品99久久久久久宅男 | japanese 色系 tube日本 | 国产精品成人亚洲 | 女人又黄的视频网站 | 久久国产精品久久 | 国产成人一区二区三区免费观看 | 亚洲成a v人片在线看片 | 中文字幕久久久 | 美女视频网站免费播放视 | 一级黄色美女视频 | 亚洲国产欧美日韩第一香蕉 | 抱着cao才爽免费观看 | 男女做性免费视频软件 | 成人影院在线免费观看 | 欧美肥婆videoxxx | 国产欧美精品一区二区三区四区 | 成年女人色毛片免费 | 国产精品资源 | 毛片的网址 | 成人不卡视频 | 亚洲自偷自拍另类12p | 久草视频免费在线看 | 成人精品视频网站 | xh98hx国产在线视频 | 成年男女男精品免费视频网站 |