Central bank advisor calls for more tightening moves

15:51, December 29, 2010      

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Central bank advisor Li Daokui signaled more tightening in the year ahead. Li says more adjustments in rates and reserve requirements will be necessary in 2011, especially in the first half. But he says the pace and frequency should be acceptable to the market.

China increased interest rates over the weekend for a second time this year, to ease inflationary pressure. But consumer prices are expected to face upward pressure. Li Daokui argues that rate hikes ahead of the Chinese New Year holiday - which will fall in early February next year - will be necessary to counter the traditional rise in prices.

Source: CNTV.cn
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