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Central bank to apply consistent, moderate tightening policies
By Li Zhengxin (Chinadaily.com.cn)
Updated: 2007-07-04 13:12 ![]() Sorry, the page you requested was not found.Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home pageCopyright 1995 -
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![]() ![]() ![]() In the second half, the People's Bank of China (PBOC) will focus on adjustments over its foreign currency policies and management of liquidity in the banking system. It will adopt multiple monetary instruments to keep prices at appropriate levels. The central bank will also target balanced growth in credit and debt, said the conference. According to a report released by PBOC recently, China's trade surplus has increased the country's foreign exchange reserves and resulted in an affluence of capital and excessive liquidity since last year. This year, the central bank has raised interest rates twice and required bank reserve ratio five times. However, analysts expect further interest rate and reserve ratio hikes in the coming months. The conference stressed that it will improve the managed floating rate system in its foreign exchange policy. It aims to promote demand-and-supply-oriented market mechanism in the exchange rate formation system, and maintain a reasonable, stable and balanced yuan exchange rate. (For more biz stories, please visit Industries)
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