Speed up structural changes
By Zhou Junsheng | China Daily | Updated: 2012-12-19 08:09
US Fed's fourth round of quantitative easing will add further pressure to China's export-oriented enterprises
The Federal Open Market Committee, a monetary decision-making body within the US Federal Reserve Board, announced on Wednesday, after a two-day meeting, that the benchmark interest rate of 0 to 0.25 percent will remain unchanged if unemployment in the United States stays above 6.5 percent.
It also launched a new, open-ended $45 billion a month purchase of Treasury bonds to replace the expiring "Operation Twist". Together with the $40 billion mortgage-backed securities purchase-quota laid out in QE3, that will bring its total quantitative easing asset purchases to $85 billion a month.
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