The head of the People's Bank of China said Beijing had no plans to raise interest rates, and with inflation below 5% more time was need to allow for the effectiveness of economic cooling measures taken already to become apparent. Bank governor Zhou Xiaochuan said the central government was concerned that if inflation surpasses the one-year lending rate of 5.31%, widespread stockpiling of goods could cause serious price increases.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved