Bank of China (PBOC) Monetary Policy Committee, State Council Development Research Center, Xia Bin, director of finance on Saturday (January 15) that the future of China raised the deposit reserve ratio there is space. China's central bank on Friday raised the deposit reserve ratio, which is the central bank for the fourth time in the last two months, raising the deposit reserve ratio.
the People's Bank of China on Friday decided that from January 20, 2011, the raised deposit-taking financial institutions of RMB deposit reserve ratio by 0.5 percentage points.
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Xia said the central bank to raise deposit reserve ratio by liquid withdrawn from circulation the effect is immediate. He added that in terms of liquidity withdrawn from circulation, raising the deposit reserve ratio hike is more effective than.
He pointed out that the increase in reserve ratio may be on the market rumors of commercial banks in the first week of 2011, almost equal to RMB 5,000 billion in lending in response.
Commercial Bank of China last year, new yuan lending 7.95 trillion yuan, more than government-set annual target of RMB 7.5 trillion. New yuan loans in China in 2009 reached a record size was 9.6 trillion yuan.
Xia said, as soon as possible so that real interest rates from negative to positive, long-term negative interest rates, asset price bubbles in China no good stress management, etc.; In addition, currency regulation and control of total financing needs of the community.
Xia Bin, said: pressure on asset price bubbles or regulation, or the normal operation of the Chinese economy is bad. The latest survey, published on Thursday about the December CPI has declined year on year increase expected from the previous month but still remained at 4% for three consecutive months or more.
China from 2010 onwards, CPI rising trend showing step by step, led to the emergence of negative interest rates, China's one-year interest rate is 2.75% of household savings.
Speaking of the renminbi issue, Xia pointed out that the yuan is also not suitable for quite a long time in the full international, China needs to ensure that the U.S. dollar against the RMB exchange rate relatively stable.
Xia said, to ensure the stability of RMB exchange rate of RMB internationalization of the Chinese economy and a favorable long-term goal. Short term, China needs to allow the yuan to appreciate moderately, but not volatile; Therefore, the RMB is also not suitable for quite a long time in the full international.
However, Xia added that China's long-term goal should be to allow the yuan to float freely, and gradually widen the yuan trading band.
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