日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Central Bank confident of averting rate hike fallout

By CHEN JIA | China Daily | Updated: 2018-06-13 07:40
Share
Share - WeChat
An employee counts yuan banknotes at a bank in Huaibei, East China's Anhui province June 22, 2010. [Photo/Agencies]

Economists say monetary tightening measures likely to continue in China 

The People's Bank of China, the central bank, is now more confident about using flexible monetary policy tools to cope with an impending US funds rate hike later this week, without disturbing the predetermined financial deleveraging pace and interest rate reform, said economists.

Monetary tightening measures are likely to continue in China to curb credit risk, given the recent moderate growth of money supply and bank lending. The monetary policymakers, however, should no longer be nagged by debating whether to follow the US steps, as domestic economic conditions and the still-high debt ratio will continue to be the top concern, they said.

The financial data for May, released on Tuesday by the PBOC, showed that the broad money supply, or M2, witnessed a year-on-year growth rate of 8.3 percent, lower than the expected 8.5 to 8.8 percent.

Total social financing, a broad measure of credit and liquidity in the economy including off-balance sheet forms of financing, dropped sharply to 760.8 billion yuan ($118.80 billion) last month from 1.56 trillion yuan in April. Yuan-denominated bank lending increased by 1.15 trillion yuan, compared with 1.18 trillion yuan in April, the PBOC said.

All the data pointed to a relatively tightening monetary environment, which can accelerate financial deleveraging and curb asset bubbles especially in the property sector, said Yang Weiyong, a professor at the University of International Business and Economics in Beijing.

The country's general interest rate level still has much room for improvement, especially in market-oriented pricing so as to enable the flow of more financial resources into more efficient production to sustain economic restructuring reforms, according to Yang.

Expectations are rife that the US Federal Reserve will take the next move on monetary tightening after its regular Open Market Committee meeting on Wednesday. The seventh rise of its funds rate since 2015 would lift the target range to 1.75 to 2 percent.

"China may increase the interest rates for open market operations following the possible US rate hike, but in a moderate way, a similar move as it took in December and March," said Yang, who also suggested a further cut in the cash that banks set aside as reserves when liquidity risk increases.

In the past two years, the PBOC has mainly relied on open market operations and innovative lending facilities, including the standing lending facility and the medium-term lending facility, to manage market liquidity.

Zhu Haibin, chief China economist and head of China Equity Strategy, JPMorgan, said that the PBOC can use various and flexible liquidity instruments to guide financial market interest rates.

Trends are indicative that the central bank is willing to further improve interest rate reform, with a target to achieve market-oriented floating interest rates with risk-based pricing, but the authority wishes to keep the process smooth without sparking any chaos in the market, according to Zhu.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 四月婷婷七月婷婷综合 | 成人高清视频免费观看 | av一级久久 | 精品亚洲国产成av人片传媒 | 亚洲欧美中文日韩二区一区 | 青青久久久国产线免观 | 国产精品大片在线观看 | 亚洲欧美精品一中文字幕 | 国产乱码精品一区二区三区中文 | 欧洲成人免费视频 | 污视频在线免费 | 国产亚洲精品久久无码小说 | 精品免费国产一区二区三区四区介绍 | 欧美精品一级 | 久久久精品| 人人做人人爽人人爱 | 黄色综合网站 | 国产高清一区二区三区 | 中国明星一级毛片免费 | 日本大黄视频 | 亚洲精品在 | 日本欧美国产 | 91精品国产综合久久欧美 | 一级片亚洲 | 亚洲午夜在线 | 一级黄色片欧美 | 日本成片 | 婷婷视频在线观看 | 日韩女同一区二区三区 | 亚洲精品欧美一区二区三区 | 福利视频区 | 久爱www成人网免费视频 | 色综合久久天天综合绕观看 | 欧美精品日韩 | 亚洲一级在线观看 | 免费激情视频在线观看 | 色房四播 | 久爱青草视频在线观看 | 亚洲男人天堂2021 | 亚洲精品欧美一区二区三区 | 一级黄色毛片视频 |