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

   

PBOC chief treads with caution on interest rates

By Dong Zhixin (chinadaily.com.cn)
Updated: 2008-03-06 12:17

China's top banker refused to rule out the possibility of further interest rate hikes on Thursday, while pledging to be cautious in using this monetary tool.

"There is definitely room for further increases, in my personal opinion," said Zhou Xiaochuan, the central bank chief during a press conference on the sidelines of the annual session of the country's top legislature.


Zhou Xiaochuan, governor of the People's Bank of China, answers questions during a press conference in Beijing, March 6, 2008. [Xinhua]

However, regulators have to weigh the pros and cons before taking such a move, Zhou said. "The timing and the scale of the adjustment are also critical factors to consider."

Zhou admitted that the recent aggressive rate cuts in the United States are restricting his agency's ability in raising the cost of capital.

The two countries' interest rates moving in opposite directions is expected to attract more hot money into China, complicating the country's efforts to keep its economy from overheating and tame inflation.

"This is just part of the factors, and we also have domestic considerations," he said, pointing to the boost of domestic consumption and the development of the capital market.

China has been encouraging its people to spend more so as to reduce its over-reliance on investment and exports for economic growth.

"We have to consider and measure the impact of interest rate changes on domestic demand," Zhou said, adding that regulators hope to cut the savings rate, which remains high in the country. In theory, a lower interest rate will help push Chinese citizens to increase consumption.

Interest rate policies will also affect the development of the capital market, as well as the proportion of direct financing, Zhou added.

When interest rates are low, people tend to look to the capital market for attractive products, thus helping adjust the proportion between direct and indirect financing, Zhou said. "The country should increase its efforts in developing the capital market and encourage direct financing."

Premier Wen Jiabao pledged to follow a tight monetary policy on Wednesday in his policy speech to keep inflation in check and prevent the economy from overheating.

The Consumer Price Index, a barometer of inflation, jumped an 11-year high of 7.1 percent in January due to rocketing food prices. The world's fourth largest economy expanded 11.4 percent last year, the sixth consecutive year of double-digit growth.

In response, the central bank raised interest rates six times and the bank reserve requirement 11 times since the start of 2007.

Zhou saw only limited direct impact on China's financial institutions by the sub-prime crisis across the Pacific which, he believes, has yet to bottom out. He was confident that China is unlike to suffer a similar crisis as the overall quality of the housing credit is good.

The central banker said the rate cuts by the Fed to avert a possible economic recession in the United States may add to the excessive liquidity in the global market, which in turn might affect China’s monetary policies.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 九九九精品视频免费 | avove旗袍丝袜高跟啪啪 | 欧美黄色xxx | 中文字幕在线播放 | 日韩欧美视频一区二区三区 | 日韩欧美一区二区久久 | 亚洲在线小视频 | 久草视频免费 | 中文一区二区在线观看 | 青青青免费手机版视频在线观看 | 午夜手机视频 | 国产一区二区精品久久凹凸 | 久久精品国产99久久 | 中文字幕区| 久久香焦 | 亚洲男人的天堂成人 | 国产美女精品三级在线观看 | 欧美日韩亚洲在线观看 | 国产成人久久精品二区三区 | 黄色大秀视频 | 欧美一级视频在线高清观看 | 精品视频在线免费播放 | 精品国产美女福到在线不卡f | 亚洲无吗| 久久www视频| 综合久久久久久 | 韩国三级大全久久网站 | 久草资源福利 | 波多野结衣在线观看一区二区三区 | 女子张开腿让男人桶视频 | 精品国产一区二区三区久 | 久久久久久久亚洲精品一区 | 欧美亚洲另类视频 | 99ri在线精品视频 | 色老汉丁香网 | 看真人视频a级毛片 | 日韩激情无码免费毛片 | 免费三级网址 | 午夜私人影院免费体验区 | 亚洲第一免费播放区 | 日本免费一区二区三区三州 |