Interest Rates for RMB Deposit and Loan Should Remain Stable

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Friday, July 27, 2001, updated at 16:12(GMT+8)

Business

Interest Rates for RMB Deposit and Loan Should Remain Stable

A regular meeting for the third quarter was recently held in Beijing by China Monetary Policy Committee of the People's Bank of China. Stressed at the meeting was that current RMB deposit and loan interest rates should continue to be kept stable.

In the second half of this year, China will continue to implement policy to expand domestic needs to keep RMB stable and resort to flexible monetary policies to keep a moderate growth of RMB currency supply. The meeting predicted that broad money supply M2 will increase by 13 to 14 percent while the money supply M1 in its narrow sense is expected to grow by 15 to 16 percent. Loans by financial institutions will increase by 1.3-1.4 trillion yuan and the total supply of loans will be controlled within the target set at the beginning of this year.

By PD Online Staff Li Yan



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	A regular meeting for the third quarter was recently held in Beijing by China Monetary Policy Committee of the People's Bank of China. Stressed at the meeting was that current RMB deposit and loan interest rates should continue to be kept stable.




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