www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

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: 国产一区成人 | 日本亚洲欧美高清专区vr专区 | 91影视做在线观看免费 | 色偷偷成人网免费视频男人的天堂 | 精品视频在线观看一区二区三区 | 久久爱青青草 | 久久三级国产 | 欧美一二区视频 | 玖玖精品在线视频 | 色综合久久88色综合天天提莫 | 欧美一级日本一级韩国一级 | 国产浮力第一页草草影院 | 99视频免费在线观看 | 亚洲精品一区二区在线播放 | 女人张开双腿让男人桶爽免 | 亚洲人成在线观看 | 韩国a级毛片 | 玖玖香蕉视频 | 欧美久草在线 | 亚洲国产精品成人久久 | 国产欧美一区二区三区免费 | 波多野一区二区三区在线 | 全部免费毛片在线 | 全国最大色成免费网站 | 久久久精品久久视频只有精品 | 国产精品揄拍一区二区 | 国产欧美一区二区三区在线 | 国产男女爽爽爽爽爽免费视频 | 国产精品自拍视频 | a级男女性高爱潮高清试 | 男女猛烈无遮掩免费视频 | 国产中文字幕在线观看 | 成人片网址 | 男女乱淫免费视频 | 暴操女人 | 日本b站一卡二不卡 | 91九色视频无限观看免费 | 91精品国产免费久久 | 一级做a爱过程免费视频麻豆 | 自拍 亚洲 欧美 | 欧美a免费 |