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China's central bank governor stresses price stability


08:32, November 21, 2012

BEIJING, Nov. 20 (Xinhua) -- China will look to stabilize prices in its monetary policies to strike a balance between economic growth and inflation control, according to the governor of the central bank Tuesday.

Zhou Xiaochuan, governor of the People's Bank of China (PBOC), made the comments in a business forum "Jinqilin" hosted by Internet portal Sina.

He said the bank should keep a watch on the overall price level in order to handle the relationship between economic stimulation, price steadiness and financial risk controls.

The PBOC has moved cautiously to loosen its monetary policy in response to the economic downturn this year, as it is wary of refueling inflation and fanning up housing prices that are still high.

It has reduced interest rates and the reserve requirement ratio for lenders twice this year, but has refrained from further cuts since July.

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