日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

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: 天天干天天插天天射 | 人人爽人人澡 | 亚色网站 | 国产黄色精品网站 | 国产成人精品一区二区三区在线观看 | 午夜aaa | 四虎成人免费视频 | 4色av| 成人在线欧美 | 免费午夜影院 | 丁香久久久 | 午夜影院视频 | 超碰在线国产97 | 中文字幕在线播放一区 | 五月婷婷激情视频 | 亚洲第一视频网 | av超碰 | 午夜色av | 亚洲四虎影院 | 一区二区三区黄色片 | 成人在线一区二区 | 久久av一区二区三区亚洲 | 成人免费看片 | 人人超碰人人 | 男女视频国产 | 亚欧视频在线 | 日本精品视频 | fc2久久 | 在线观看的av网站 | 色呦呦精品 | 超碰在线c | 日日精品 | 中文字幕综合在线 | 日本视频在线观看免费 | 婷婷色中文网 | 成年人在线免费看 | www.日韩av | 中文字幕一区三区 | 日本人做爰大片免费 | 黄色小视频在线 | 国产原创在线播放 |