ICBC: Inflation to peak in 2009

A report by Industrial and Commercial Bank of China (ICBC) projected inflation in China to peak in 2009 and then drop, state media reported. The report also predicted that the mainland’s stock markets would continue to see sharp fluctuations in 2010 and 2011, but rise overall afterward. The bank predicted that in the 2009-2011 period China’s economy would see high levels of liquidity as the broad money supply increases, though it said the likelihood of liquidity shortfalls would also be higher.