Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Central bank: still room for more relaxed monetary policy
+ -
15:23, March 10, 2009

Click the "PLAY" button and listen. Do you like the online audio service here?
Good, I like it
Just so so
I don't like it
No interest
 Related News
 China's monetary policy takes effect, further moderate adjustment possible: central bank governor
 China's monetary policy takes effect, further moderate adjustment possible: central bank governor
 China to ensure bank credit to grain producers amid tight monetary policy
 Central bank: China to continue tight monetary policy
 PBOC: China continues tight monetary policy to curb inflation
 Related Channel News
· NPC & CPPCC Sessions 2009
 Comment  Tell A Friend
 Print Format  Save Article
A senior central bank official said that there is still much room for further adjustment of the monetary policy, particularly more cuts in bank reserve requirement.

People's Daily reported today that Su Ning, Deputy Governor of the People's Bank of China, does not agree with the argument that there would be limited room for further adjustment to China's monetary policy. This is due to the sufficient liquidity in China's banking system and China's approximate interest rate to the nearly zero interest rate in the US.

Su Ning pointed out the bank reserve ratio, currently standing at 13 percent to 15 percent, makes further downsizing possible in case of insufficient market liquidity.

More interest rate cuts will be more difficult, but still possible. The central bank has reduced the one-year benchmark interest rate for loans by 216 basis points to 5.31 percent. While cutting that of deposits by 189 basis points to 2.25 percent after it had cut interest rates five times since September last year.

The central bank will make decisions on monetary policies according to the market condition, said Su.

"In a word, the People's Bank of China has enough tools to adopt a moderate policy to ensure that the money supply meets the needs of the economic growth," he concluded.

By People's Daily Online



  Your Message:   Most Commented:
British boy becomes father at 13
Full Text of Human Rights Record of United States in 2008
China hits back with report on U.S. human rights record
Looted Chinese relics sold for 14 million euros each
U.S. Secretary of State Hillary Clinton arrives in Beijing for China visit

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90776/90884/6610954.pdf