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Inflation controllable, says top banker

(Global Times)

09:02, March 05, 2013

The mainland's inflation rate will rise "slightly" this year, partly due to lagging effects, but Beijing is confident that it can keep price pressures under control, a senior central banker says.

The forecast may also ease concerns about price rises as policymakers consider reforms including further interest rate liberalization.

Speaking on the sidelines of the opening session of the Chinese People's Political Consultative Conference, deputy central bank governor Yi Gang said the consumer price index might rise to about 3 percent.

"We will face some inflationary pressures this year," Yi said. "But generally speaking, we are fully confident of keeping the prices under control."

He declined to comment on whether monetary policy should be used to curb a rise in housing prices. The State Council rolled out new directives Friday, urging authorities to curb speculative activities through steps including strict implementation of a 20 percent tax on earnings from property reselling.

Based on a news story from the South China Morning Post.

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